Mmtc ltd. offer for sale

Damandeep Singh (Student) (1062 Points)

19 June 2013  

Govt. has recently brought OFS for 9.33 Crore shares for MMTC Ltd. at floor rice of Rs.60 per share when it was trading in the price range of Rs.190 to Rs.200 per share. The issue was oversubscribed, for those who hav bought it above 200 & now, they all are trying to exit from stcok & those who hav bought it in OFS for Rs.60 are also trying to exit so that they cud make good profits, But, Stock is daily locked at Lower Circuit in jst 5-10 minutes after market opening. Was govt. to right to set floor price at such heavy discount?? & How one could exit from it now??