MMTC divests 49.78% stake in Neelachal Ispat Nigam to Tata Steel Long Products

MMTC has transferred its share of 49.78% of the issued and paid-up equity share capital of Neelachal Ispat Nigam (NINL) to Tata Steel Long Products (TSLP), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Investment & Public Asset Management (DIPAM), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements (Definitive Agreements).

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