Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

National Mineral Development Corporation (NMDC) has commenced the process to demerge its steel unit as a separate business.


The miner’s board of directors on Tuesday approved the move to demerge NMDC and NMDC Steel. The demerger is subject to statutory and regulatory approvals from the Securities and Exchange Board of India, stock exchanges, the Union ministry of corporate affairs, and shareholders and creditors associated with the scheme.


NMDC is setting up a greenfield integrated steel plant at Nagamar with an annual capacity of 3mn mt. 

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