NMDC gets MCA approval for steel business demerger | Economy Latest Update | ET Now

Описание: Ministry of Corporate Affairs has sanctioned NMDC's proposal to separate its mining and steel businesses. Stock Exchanges approval is pending and the company is in the process of complying with the requirements of the order and observation letters received from stock exchanges. Once the approval is received, the company intends to demerge the steel business and then list it as a separate listed entity. Talking about the plant, it has a capacity of 3MTPA and the company has spent nearly Rs 20kcr on this plant. Analysts expect the demerger to be completed by Q3FY23.
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