NMDC Limited has officially announced that the Ministry of Steel has secured concurrence from DIPAM, Ministry of Finance, to establish a Wholly Owned Subsidiary (WOS). This new entity will be incorporated in GIFT City, Gandhinagar, Gujarat. This development follows up on an earlier announcement made on 12th August 2025. NMDC will now proceed to take the necessary steps to incorporate the WOS as per the directive.
Formal Confirmation of Subsidiary Formation
NMDC Limited has confirmed receipt of communication from the Ministry of Steel, Government of India, regarding the incorporation of a new business entity. This communication conveys the necessary concurrence received from the Department of Investment and Public Asset Management (DIPAM), which falls under the Ministry of Finance.
The core purpose of this approval is to enable NMDC Ltd to establish a Wholly Owned Subsidiary (WOS) in the international financial services center located in GIFT City, Gandhinagar, Gujarat.
Reference and Next Steps
This announcement serves as a follow-up to the company’s earlier communication regarding this strategic move, which was dated 12th August 2025 (Reference No. SEA2025041). The administrative ministry (Ministry of Steel) has now formally requested that NMDC Limited proceed immediately to undertake all further necessary actions required for the successful incorporation of the WOS in the specified location.
This information is provided for public record and compliance purposes.
Source: BSE
