 "NINL, Neelachal Ispat Nigam Ltd")
In its second acquisition of a public sector undertaking (PSU) within a week, the Tata group has bagged a majority stake in Neelachal Ispat Nigam (NINL), giving a strong push to the government’s privatisation drive, showcasing the interest of marquee private sector investors in the Centre’s assets.
The Alternate Mechanism, comprising Union Ministers Nitin Gadkari, Nirmala Sitharaman, and Piyush Goyal, approved the divestment of the 93.7 per cent stake held in NINL by four central PSUs and two companies of the Odisha government, to Tata Steel Long Products (TSLP) at an enterprise value of Rs 12,100 crore.
The reserve price for the
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