State-owned NMDC is planning to start roadshows globally from next week to attract investors for its estimated Rs 20,000-crore Follow-on-Public Offer (FPO) that is likely to take place in March.
"NMDC's roadshows to promote the FPO internationally will start on February 23 and end on March 4," a top official from the Department of Disinvestment told PTI.
The official said the company has already held pre-roadshows and now has chalked out plans to send two teams to countries like the US, England, Singapore and Hong Kong to attract investors for the share sale programme, which will see the government selling 8.38 per cent stake in the firm.
"The US will be covered twice, once by the first team and secondly by the second team during the upcoming roadshows as NMDC plans to go all-out to woo institutional investors based there for the FPO," he added.
Earlier this month, NMDC Chairman and Managing Director Rana Som had led a team to these countries on preroadshows for promoting the share sale programme.
India's largest iron ore producer is expected to submit the final prospectus for the share sale to regulator SEBI by the end of this week.
The government at present owns 98.38 per cent equity in the company.