NMDC Limited has informed the Exchange about General Updates-- Incorporation of a Wholly-Owned Subsidiary (WOS) of NMDCLimited in International Financial Service Centre (IFSC), Gujarat International FinanceTec-City ("GIFT"), Gandhinagar, Gujarat
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NMDC Limited's Board of Directors, in its 579th meeting held on 12th August 2025, approved the incorporation of a Wholly-Owned Subsidiary (WOS) at the International Financial Service Centre (IFSC) in GIFT City, Gandhinagar, Gujarat. The subsidiary will be fully owned by NMDC. The move is subject to approvals from the Ministry of Steel, DIPAM (Department of Investment and Public Asset Management), and any other relevant authorities. No financial details, capital allocation, or specific business purpose for the new subsidiary have been disclosed in this filing.
This is a strategic step that could help NMDC access global financial markets and benefit from tax incentives available in GIFT IFSC. However, the actual business impact remains uncertain until further details on the subsidiary's purpose, capital, and operations are shared, and key approvals are secured.