NMDC - Steel Plant Divestment, Commissioning, Ramp-Up Can Unlock Value: ICICI Securities
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ICICI Securities Report
Board of directors of NMDC Ltd., has approved the scheme of arrangement for demerger between NMDC and NMDC Steel Ltd.
2.93 billion fully paid up equity shares of Rs 10/share each of NMDC Steel shall be issued and allotted to the shareholders of NMDC, against 2.93 billion fully paid up equity shares of Rs 1/share each held by them in NMDC.
Preliminary discussion with the management highlights the following-
six months till listing of NMDC Steel shares
book value of NMDC Steel ~ Rs 185 billion. Debt of ~Rs 19 billion will be transferred to NMDC Steel. Face value of NMDC Steel has been fixed at Rs 10/share and
steel plant commissioning is scheduled at September-October 2021.
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