M&A

M&A

ArcelorMittal, JSW Steel, Tata Steel among bidders for Neelachal Ispat

Mint  

With financial bids received for the strategic disinvestment of Neelachal Ispat Nigam Ltd (NINL), the process now moves to the concluding stage. ArcelorMittal, JSW Steel, Megha Engineering and Infrastructure Ltd, and Tata Steel are among firms that have been shortlisted for buying NINL. SBI Capital Markets Ltd is the transaction adviser for the proposed 100% strategic disinvestment of the state-run firm. NINL's equity shareholders include Minerals & Metals Trading Corporation (49.78%), National Mineral Development Corporation (10.10%), MECON (0.68%), Bharat Heavy Electricals (0.68%), Industrial Promotion and Investment Corporation of Odisha (12%), and Odisha Mining Corporation (20.47%).