Is NMDC hiving off its steel business?
Answer
Answer
Answer
NMDC has started the process to carve out its steel unit and list as a separate business on the stock exchange in the light of the government’s plans to increase steel production to take advantage of robust steel prices. It will be done via demerger. NMDC shareholders will get proportionate share of NMDC Steel shares. Government wants to expand India’s steel production capacity to 300 million TPA by 2025. NMDC Steel will have captive ore mines.