Mumbai Govt looks to sell 12.15% through OFS route to raise about R1,400 crore

The government has, on several occasions, indicated that it plans to embark upon its FY13 divestment plan by selling 10-12% stakes in natural resources giants National Aluminium company (Nalco) and National Mineral Development corporation (NMDC). While market observers believe that NMDC is an attractive bet due to the regulatory issues faced by rival Sesa Goa, they think Nalco may not see similar interest from investors given its operational problems.