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The government has invited bids from transaction advisers to manage the strategic sale of MSTC subsidiary Ferro Scrap Nigam Ltd (FSNL).
Under the administrative control of the steel ministry, FSNL has registered offices in Bhillai, Chhattisgarh, and is currently working with eight steel plants.
The government would appoint a transaction advisor from reputed consulting firms, investment bankers or financial institutions for providing advisory services to the Department of Investment and Public Asset Management (DIPAM) . They would be required to submit their bids by November 23.
The budget set a divestment target of Rs 2.1 lakh crore for the financial year 2020-21, including Rs 1.2 lakh crore from divestment in public sector companies and Rs 900 crore from sale of stake in public sector companies.
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