The Finance Ministry on Thursday invited bids for the sale of the government’s entire stake in Ferro Scrap Nigam Limited (FSNL). The last date for submission of Expression of Interest (EOI) is May 5.
The Department of Investment and Public Asset Management (DIPAM) said, “Government of India is going to disinvest Ferro Scrap Nigam Limited (FSNL), a 100% subsidiary of MSTC Limited, through strategic sale along with transfer of management control.”
BDO India LLP is acting as transaction advisor for the proposed disinvestment. FSNL, a subsidiary of MSTC, was formed in 1979. The strategic sale of FSNL is expected to be completed in 2022-23. The government has set a target of raising Rs 65,000 crore from disinvestment of public sector undertakings in 2022-23.
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