Bids received for Neelachal Ispat Nigam Ltd : Dipam Secy

Strategic Sale of Neelachal Ispat Nigam Limited has moved to concluding stage with the government reciveing the financial bids for the state-owened company, said department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey in a tweet.

"Financial bids received for strategic disinvestment of Neelachal Ispat Nigam Limited. Process now moves to concluding stage," he tweeted. Earlier, the government had said that it had received multiple expressions of interest for complete stake sale in the firm.

NINL is a joint venture company of four central public sector enterprises which include MMTC, NMDC, Bharat Heavy Electricals Limited and Mecon; and two State PSUs, Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) and Odisha Mining Corporation (OMC). The equity shareholding consists of MMTC (49.78%), NMDC (10.10%), MECON (0.68%), BHEL (0.68%), IPICOL (12%) and OMC (20.47%).