Authorities on Monday stated it has acquired a number of preliminary bids for getting Ferro Scrap Nigam Ltd (FSNL). The Division of Funding and Public Asset Administration (DIPAM) had in March invited bids for strategic sale of FSNL. The final date for placing in bids was Might 5 which was later prolonged to June 17.
“A number of Expressions of curiosity (EOIs) acquired for Strategic Disinvestment of Ferro Scrap Nigam Ltd (FSNL)- an entirely owned subsidiary of MSTC Ltd,” DIPAM Secretary Tuhin Kanta Pandey tweeted.
After completion of due diligence, DIPAM would invite monetary bids from potential patrons of FSNL. Included in 1979, FSNL is a subsidiary of MSTC, which comes underneath the metal ministry.
The corporate is a pioneer in metallic scrap restoration and slag dealing with in India. The federal government has budgeted to gather Rs 65,000 crore by way of CPSE disinvestments in 2022-23. Up to now, it has mopped up Rs 24,544 crore by way of minority stake sale and share purchase again.