NMDC's steel plant sale may fetch enterprise valuation of up to $4 bn

Lenders, shareholders meeting to demerge steel company on Tuesday

Bankers and shareholders of mineral firm NMDC are set to clear the demerger of the steel plant on Tuesday, paving the way for its sale. Some of India's top steel companies are expected to participate in the sale process of the demerged entity, which could fetch an enterprise valuation of up to $4 billion as the competition will be intense due to its access to iron ore mines in Chhattisgarh, say bankers.

The Indian government currently holds 60.8 per cent stake in the company and is keen to sell its stake in the three-million-tonne-per-annum steel plant at Nagarnar, Chhattisgarh in