Govt to sell 50.79% in NMDC's steel plant at Nagarnar, invites bids

The last date for submitting queries by interested bidders is December 29, 2022, and that for submission of bids is January 27, 2023 as per the expression of interest (EoI)

The finance ministry on Thursday invited initial bids for NMDC’s Steel Plant (NSL) at Nagarnar and offered to sell a 50.79 per cent stake in the company.

Additionally, the government shall offer 10 per cent stake in resulting company to NMDC after the strategic buyer has been identified through the bidding process and the remaining 39.21 per cent will be subscribed by the public subsequent to shares of NSL will be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).

“Demerger scheme has already been approved by the Ministry of Corporate Affairs (MCA) on October 6,