Government has received Multiple Expressions of Interest (EoI) received for strategic disinvestment of Ferro Scrap Nigam Limited (FSNL), a wholly owned subsidiary of MSTC Limited under Ministry of Steel, declared Secretary, Department of Investment and Public Asset Management (DIPAM). ) in a tweet on Monday.
The government had extended the last date for submission of bids for the strategic disinvestment of FSNL by a month to June 6. The government has started the process of selling its entire stake in FSNL held through MSTC Limited in a strategic sale, where there is management control. Profit making Central Public Sector Enterprises will also be left out.
After this news, the shares of MSTL jumped from the lower level and it was trading with a gain of about 2%. 266 each on the BSE in Monday’s session.