New Delhi
NMDC Limited has denied reports suggesting that it is in talks to merge with Kudremukh Iron Ore Company Limited (KIOCL). In a statement to the stock exchange on Monday, NMDC clarified that no discussions about a potential merger are currently taking place.
NMDC, which is a Navratna Public Sector Enterprise under the Ministry of Steel, emphasized that any decisions regarding mergers would be handled by the Ministry of Steel in coordination with the Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance.
The company also stated that it has not received any formal communication from the Government of India, including from the office of the President of India, regarding the merger.
NMDC assured that there has been no development that could affect stock market activity related to the company. It further stated that if any relevant updates arise, they will be shared in accordance with regulatory guidelines.
The company has requested that this clarification be noted and remains open to providing further information if required.
