The finance ministry on Thursday invited bids to promote all the authorities stake in Ferro Scrap Nigam Ltd (FSNL). The final date to submit an Expression of Curiosity (EoI) is Might 5.
“The Authorities of India is proposing to disinvest Ferro Scrap Nigam Restricted (FSNL), a 100 per cent subsidiary of MSTC 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 the steel ministry. 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 of CPSE disinvestments in 2022-23 fiscal.
