Hyderabad: NMDC Steel Limited (NSL) was listed on the Bombay Stock Exchange on Monday. NSL, National Mineral Development Corporation’s (NMDC) 3 Million Tonnes per annum Integrated Steel Plant at Nagarnar in Chhattisgarh, was listed to become a public company on Monday.
The listing ceremony was held at the Bombay Stock Exchange, Mumbai in presence of Chairman-cum-Managing Director of NSL, Sumit Deb.
NMDC Steel Limited was incorporated as a wholly owned subsidiary of NMDC Limited on January 2, 2015, under the Companies Act, 2013 with a registered office at NMDC Iron & Steel Plant Nagarnar Bastar, Chhattisgarh.
The now demerged company NMDC Steel Limited is a central public sector enterprise with a paid-up capital of Rs. 2,930 crores owned by the President of India, under the administrative control of the Union ministry of steel. The government owns a 60.79% stake in this company, said a press release on Monday.
“Nagarnar Steel Plant is in the final stages of commissioning and is likely to be commissioned shortly. This plant will cater to the domestic steel needs and fulfill the vision of the National Steel Policy 2017 of the Government of India,” said Sumit Deb.
