Financial bids for Chhattisgarh-based NMDC Steel likely in two months

The Union Budget has set the target for miscellaneous capital receipts, including disinvestment, at Rs 50,000 crore for FY25 compared to the revised estimate of Rs 30,000 crore for FY24

The Union Ministry of Finance is likely to invite financial bids for Chhattisgarh-based NMDC Steel (NSL) in the next two months, a senior government official said on the condition of anonymity. 

“The government believes that NMDC Steel is a fit candidate under the new disinvestment plan. As the plant is new, it can generate more value to shareholders,” the government official said.

In October 2022, the Centre demerged the Nagarnar steel plant (NMDC Steel) from the parent NMDC, India’s largest iron ore producer, to unlock its value. 

On December 1, 2022, the government sought expressions of interest (EOIs) for the