Tata Steel arm bags majority govt stake in NINL for Rs 12,100 cr

03 Feb 2022 CW Team

Tata Group in their second acquisition of a public sector undertaking (PSU) in the same week bagged a major stake in the Neelachal Ispat Nigam (NINL).The deal gives a boost to the privatisation drive of the government. It further showcases the private sector investors’ interest in the Centre’s assets.

The divestment of the 93.7% stake in NINL was approved by an Alternate Mechanism that had Union Ministers Nitin Gadkari, Nirmala Sitharaman, and Piyush Goyal. The stake was handed over to Tata Steel Long Products (TSLP) for Rs 12,100 crore.

Rs 5,616.97 crore was the reserve price that had been set and approved by the Cabinet Secretary-headed Core Group of Secretaries on Divestment for the PSU. Two other bidders had also submitted their bids which include JSW Steel and consortium of Jindal Steel and Power and Nalwa Steel and Power. The Tata Group arm beat both these bidders.

There won’t be any divestment receipts for this exchequer after the sale because the Centre does not own any direct stake in the NINL.

Tata Steel has a 74.91% stake in Tata Steel Long Products.The buyer has to pay 10% of the bidding amount that will later be deposited in an escrow account. The previous clause of depositing 100% of the bid amount on the execution date was amended by the government on the basis of bidders’ demand.

On the transaction's closure date, the shares will be handed over to the new buyer and the remaining will be used in alignment with the waterfall agreement which was signed amongst the selling shareholders.

Image Source

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..