Govt to divest stake in Manganese Ore, NMDC
July 23rd, 2009
The Steel Ministry has decided to press ahead with its disinvestment plans for wholly-owned subsidiaries Manganese Ore and NMDC. In an exclusive interview to CNBC-TV18, Steel Secretary PK Rastogi said the government had decided to list Manganese Ore, 10% of whose stake would be sold as part of the listing process. “The face value of the share, currently at Rs 100, would be reduced for Manganese Ore. We will also issue a 1:5 bonus issue for the government,”
The Steel Secretary added that no decision had yet been taken on the quantum of stake sale to be undertaken in NMDC.