Govt to sell 20% in Managanese Ore
The government is looking at divesting 20% in Manganese Ore India Limited. Out of which 10% of this stake will be divested by the Central Government, 5% by the Maharashtra Government and 5% by the Madhya Pradesh Government.
This is the first case of divestment where both the Central and State Governments are divesting stake. Uptill now whatever issues have happened in the government’s current disinvestment drive it’s always been the Central Government that has divested its stake.
It is also learnt that there is a stock split in bonus likely in the manganese ore before the issue hits the markets and the bonus issue is likely to be in a 1:5 ratio. We will give you more details as and when the cabinet notice finalised and investment bankers are recruited. Right now this is the information we have.
Source:- Moneycontrol
