49% of GoI's stake in HSCL to be represented by MoHUA
NBCC (India) acquired Hindustan Steelworks Construction as subsidiary company on 01 April 2017.On the date of acquisition the shareholding pattern of HSCL was as under -
GoI (through Ministry of Steel) - 49%
NBCC - 51%
Pursuant to the communication dated 11 December 2017 received from the Ministry of Housing and Urban Affairs (MoHUA) as per the Government of India (Allocation of Business) Three Hundred and Thirty Seventh Amendment Rules 2017, the matters related to the NBCC and its subsidiaries are under the Allocation of Business Rules of MoHUA.
Further, on 22 December 2017, a shareholders agreement has been signed among Ministry of Steel, Ministry of Housing and Urban Affairs (MoHUA), NBCC and HSCL and 49% of the GOI's shareholding in HSCL would now be represented by MoHUA.
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