NMDC Receives DIPAM Concurrence to Incorporate Wholly Owned Subsidiary in GIFT City
New Delhi, 13 March 2026: NMDC Limited has received concurrence from the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, through the Ministry of Steel, for the incorporation of a Wholly Owned Subsidiary (WOS) in GIFT City, Gandhinagar, Gujarat.
This follows NMDC’s earlier announcement dated 12 August 2025, and the company has been requested to proceed with the necessary steps for the subsidiary’s incorporation. This move is expected to strengthen NMDC’s corporate structure and expand its strategic presence in India’s financial and investment hub at GIFT City.
Key Highlights:
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Entity: NMDC Limited (NMDC)
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Wholly Owned Subsidiary: To be incorporated in GIFT City, Gandhinagar, Gujarat
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Approving Authorities: Ministry of Steel, Government of India; DIPAM, Ministry of Finance
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Purpose: Strategic corporate expansion and operational presence in GIFT City
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Regulatory Compliance: Disclosure made under SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
About NMDC Limited:
NMDC Limited, headquartered in Hyderabad, is India’s largest iron ore producer and a Navratna public sector enterprise under the Ministry of Steel, Government of India. NMDC is engaged in mining, mineral exploration, and related infrastructure development, contributing significantly to India’s steel and mining sector.