Briefly Business: NMDC base price fixed at Rs 147

NMDC base price fixed at Rs 147

Mumbai: The government has fixed the floor price for sale of its 10 per cent stake in NMDC at Rs 147, a 7.7 per cent discount to market price. The government will raise Rs 5,828 crore from the sale through offer for sale route.

India revokes patent on Merck's asthma drug

Mumbai: The Indian Patents Office has revoked a patent for an asthma drug held by US-based Merck & Co, citing lack of invention, after pharma firm Cipla Ltd challenged an earlier decision.

Extra charge for Mathur as PF Commissioner

New Delhi: Ravi Mathur, additional secretary, ministry of labour has been given additional charge as the Central Provident Fund Commissioner.

ISB launches new family biz programme

New Delhi: The Indian School of Business has launched a new Management Programme for Family Business. The programme was launched by leaders of Indian family business groups, Adi Godrej and Sunil Kant Munjal in the presence the ISB, Dean Ajit Rangnekar, Deputy Dean Deepak Chandra and Professor Kavil Ramachandran.

NTPC 9.5% stake sale likely on January 15

New Delhi: The government is likely to sell 9.5 per cent of its stake in NTPC on January 15 which could fetch the exchequer over Rs 12,000 crore, a source in the finance ministry told PTI.

BT selling $183 mn stake in Tech Mahindra

Mumbai: BT is selling its 9.1 per cent stake in Tech Mahindra in a deal expected to raise about $183 million. Tech Mahindra shares are being sold at a floor price of Rs 855, according to a term sheet seen by Reuters.

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