The Indian government is looking at iron ore pellet producer KIOCL Limited as one of the government companies to be put up for privatization or strategic sale of equity through offer-for-sale (OFS), sources said on Tuesday, June 22.
The sources said that a government panel overseeing disinvestment of stakes in government companies held a review meeting last month to draw up a new list of government-owned companies that could be put up for disinvestment.
It has been learned from the sources that the government panel has asked the Department of Investment and Public Asset Management (DIPAM) to draw up a roadmap for disinvestment of government equity held in at least ten companies, including pellet producer KIOCL Limited.
KIOCL operates a pellet production plant with 3.5 million mt per year capacity and an iron ore beneficiation plant with 7.5 million per year capacity, along with a 260,000 mt per year pig iron plant, in the southern state of Karnataka.