“The Government ofis proposing to disinvest Ferro Scrap Nigam Limited (FSNL), a 100 per cent subsidiary of Ltd, through strategic sale along with transfer of management control,” the Department of Investment and Public Asset Management (DIPAM) said.
BDO India LLP is acting as the transaction advisor for the proposed transaction.
Incorporated in 1979, FSNL is a subsidiary of MSTC, which comes under theministry. The company is a pioneer in metal scrap recovery and slag handling in India.
The strategic sale of FSNL is expected to conclude in FY23.
The government has budgeted to collect Rs 65,000 crore throughdisinvestments in 2022-23 fiscal.