“The Authorities ofis proposing to disinvest Ferro Scrap Nigam Restricted (FSNL), a 100 per cent subsidiary of Ltd, by way of strategic sale together with switch of administration management,” the Division of Funding and Public Asset Administration (DIPAM) mentioned.
BDO India LLP is performing because the transaction advisor for the proposed transaction.
Included in 1979, FSNL is a subsidiary of MSTC, which comes below theministry. The corporate is a pioneer in metallic scrap restoration and slag dealing with in India.
The strategic sale of FSNL is anticipated to conclude in FY23.
The federal government has budgeted to gather Rs 65,000 crore by way ofdisinvestments in 2022-23 fiscal.