Team News Riveting
Hyderabad, February 20
NMDC Steel Limited (NSL) was listed at Bombay Stock Exchange (BSE) on Monday with shares locked at the 5 per cent upper circuit at Rs 31.75 on the intra-day on its debut.
On National Stock Exchange (NSE), the scrip last traded at Rs 31.75.
NSL, NMDC’s 3 MTPA Integrated Steel Plant at Nagarnar in Chhattisgarh, was listed to become a public company today.
The listing ceremony was held at BSE, Mumbai in presence of Sumit Deb, CMD, NSL, Amitava Mukherjee, Director, NSL, D K Mohanty, Director, NSL, Independent Directors of NMDC and Senior Officials of NMDC and NSL. Manoj Kumar, Joint Secretary, DIPAM, Government of India; Nayan Mehta, CFO, BSE Limited; Amitava Chatterjee, MD and CEO, SBI Capital Markets Limited; and Kamal Kant Upadhyay, MD and CEO, IDBI Capital Markets and Securities Limited witnessed the listing ceremony.
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 and 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 crore owned by the President of India, under the administrative control of the Ministry of Steel, Government of India.
The Government owns 60.79 per cent stake in this company.
Expressing his gratitude towards everyone involved in the listing of the company, Sumit Deb, CMD, NMDC said, “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 fulfil the vision of the National Steel Policy 2017 of the Government of India.”
