NINL privatisation: Financial bids acquired

The central authorities has acquired monetary bids for the strategic disinvestment of Neelachal Ispat Nigam Limited (NINL), Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey mentioned on Thursday. The course of for strategic disinvestment of the corporate has now moved to the concluding stage, he mentioned in a tweet. December 23 was the scheduled date for bidding for debt-laden metal maker.
The Centre is planning to divest 93.7 per cent stake held by 4 central public sector enterprises (CPSE) and two Odisha authorities firms. CPSEs MMTC and NMDC personal 49.78 per cent, and 10.10 per cent in NINL, respectively. MECON and Bharat Heavy Electricals maintain 0.68 per cent every within the metal maker.
Industrial Promotion and Investment Corporation of Odisha and Odisha Mining Corporation personal 12 per cent and 20.47 per cent stake in NINL, respectively. The Centre  expects to finish this transaction by the top of the fiscal.