The government is planning to sell 10% of its stake in iron ore mining company NMDC through an offer for sale. The government, which owns 80% in the company, has invited bids from merchant bankers by 16 May.
In 2015-16, the government mobilized about Rs.18,277 crore through divestment offers in companies like Container Corp. of India, NTPC, Rural Electrification Corp., Power Finance Corp., India Oil Corp., Dredging Corp. of India and Engineers India.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
