Government to divest 15% of KIOCL Ltd through FPO

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NewDelhi : The Government of India has decided to divest 15% stake in KIOCL, a miniratna category PSU under the ministry of steel.

“The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India vide its mail dated 20-03-2019 intimated the Request For Proposal (RFP) for engagement of Book Running Lead Managers (BRLM) for disinvestment of upto 15% Paid up Equity of KIOCL Limited out of Government of India shareholding of 99.06% through ‘Follow-on Public Offer’ in the domestic market” KIOCL said in a market filing.

The government of India holds 99.06% of paid up equity in KIOCL, while rest of paid up equity is held by Institutional Investors, Bodies Corporate and General Public. The Government intends to further disinvest upto 15% paid up equity share capital of KIOCL through “Follow-on Public Offer (FPO)” in the domestic market.

Click here to read the detailed notification. 

 

Shares of KIOCL Ltd was last trading in BSE at Rs.142.95 as compared to the previous close of Rs. 143.25. The total number of shares traded during the day was 1409 in over 50 trades. The stock hit an intraday high of Rs. 143.9 and intraday low of 139.4. The net turnover during the day was Rs. 199419.

KIOCL is a leading Iron Ore Pellet and Pig Iron producer in the country.  The Company is presently engaged in production of Iron Oxide Pellets from its 3.5 MTPA capacity Pelletisation Plant and Foundry Grade Pig Iron having 2.16 lakh Ton Capacity plant located in the coastal city of Mangalore.

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