Initial bids were invited for NMDC’s Nagarnar Steel Plant (NSL), and the finance ministry offered to sell a 50.79 percent stake in the business.
Additionally, after the strategic buyer has been chosen through the bidding process, the government will offer NMDC a 10% stake in the resulting company. The remaining 39.21% of the company will then be subscribed for by the general public after shares of NSL are listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Ministry of Corporate Affairs has already given its approval to the demerger scheme (MCA).