Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Mon, 20 Jun 2022 01:40 PM IST
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Preparations are on in full swing to sell the government company Ferro Scrap Nigam Limited. According to information shared by the Secretary, Department of Investment and Public Asset Management (DIPAM) via tweet, Ministry of Steel has received multiple expressions for Strategic Disinvestment of Miniratna Company, a wholly owned subsidiary of MSTC Limited.
Bids submitted till date
According to DIPAM, many investors have shown interest for this company. June 6 was set as the last date for submission of bids for its privatization. Significantly, the government is selling 100% stake in FSNL through MSTC Limited. The Cabinet Committee on Economic Affairs had in October 2016 given in-principle approval for disinvestment of entire equity shareholding in FSNL through MSTC through strategic disinvestment and transfer of management control. It may be mentioned here that FSNL is a metal scrap recovery company and has nine steel plants in India.