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Alerts:

GLOBAL INVITATION FOR EXPRESSION OF INTEREST FOR THE STRATEGIC DISINVESTMENT OF FERRO SCRAP NIGAM LIMITED (A 100% SUBSIDIARY OF MSTC LIMITED)

30 March 2022

The Cabinet Committee on Economic Affairs (“CCEA”), GoI has accorded in-principle approval to disinvest entire equity shareholding held through MSTC in FSNL through strategic disinvestment and transfer of management control. Department of Investment & Public Asset Management (DIPAM) will oversee the strategic disinvestment on behalf of GoI and has appointed BDO India LLP as its transaction advisor through the tendering process.

Ferro Scrap Nigam Limited (FSNL) is a Government of India Mini Ratna II, IMS Certified Central Public Sector Enterprise under the administrative control of the Ministry of Steel, Government of India. FSNL has been the pioneer in the field of metal scrap recovery and slag handling in India. It focusses on providing steel mill services i.e. processing steel mills slag for recovery of iron scrap and other metallics across multiple steel plants in India.

Interested Bidders shall be required to participate in the tender process inviting Expression of Interest for strategic disinvestment of FSNL basis the documents enclosed with this page. The PIM, or any other clarifications and common communications would be available on the following websites:

  1. www.bdo.in
  2. www.fsnl.nic.in
  3. www.dipam.gov.in
  4. https://steel.gov.in/
  5. www.mstcindia.co.in

For any further queries on the process, you may reach out to either Maulik Sanghavi (Partner, BDO India LLP) or Rajorshi Roy (Director, BDO India LLP) at [email protected]

Download: PRELIMINARY INFORMATION MEMORANDUM

Download: CORRIGENDUM-I TO PIM FOR FSNL

Download: CORRIGENDUM-II TO PIM FOR FSNL 

Download: RESPONSE TO THE QUERIES BY INTERESTED BIDDERS