The central government has received multiple expressions of interest (EoI) from bidders for privatisation of Neelachal Ispat Nigam Ltd (NINL), said by the Secretary of Department of Investment and Public Asset Management (DIPAM) Mr.Tuhin Kanta Pandey.
The DIPAM had in January invited preliminary bids for the strategic sale of NINL. The last date for bid submission was March 29.
Earlier, the government had invited bids to privatise NINL seeking to divest 93.7 percent stake held by four central public sector enterprises and two Odisha government PSUs.
In January last year, the Cabinet Committee on Economic Affairs had given in principle approval for strategic disinvestment of equity shareholding of Minerals and Metals Trading Corporation Limited, National Mineral Development Corporation, MECON and Bharat Heavy Electricals Ltd as well as two Odisha State Government PSUs in Neelachal Ispat Nigam Limited to a strategic buyer identified through a two-stage auction procedure.
The process of privatisation of Air India, BPCL, Pawan Hans, BEML and Shipping Corp has also moved to the second stage after the government received multiple expressions of interest for these Central Public Sector Enterprises. For 2021-22, the government has set a disinvestment target of Rs 1.75 lakh crore, over five times what it is aiming to raise in the current financial year. In the Revised Estimates, the target has been set at Rs 32,000 crore for the current fiscal.
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