The government on Thursday announced that Neelachal Ispat Nigam Ltd (NINL) and Tata Steel Long Products (TSLP) signed a share purchase agreement, taking the disinvestment transaction to the closing stage.
In a statement, the Department of Investment and Public Asset Management (DIPAM) said that the company has executed the Share Purchase Agreement and Escrow Agreement (definitive agreements) for sale of its entire equity holding of 10.10% in NINL to TSLP. The successful bidder will be selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis DIPAM