NMDC receives approval to establish subsidiary in GIFT City | Business Upturn

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NMDC has obtained approval from the Ministry of Steel and DIPAM to establish a wholly owned subsidiary in GIFT City, Gandhinagar, Gujarat.

The Ministry of Steel has conveyed its concurrence, along with the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, for NMDC to proceed with the incorporation of the new entity. This development follows an earlier announcement made by the company in August 2025. The subsidiary will be located in Gujarat International Finance Tec-City (GIFT City), a prominent business district in Gandhinagar, Gujarat. Further details regarding the subsidiary’s operations or strategic focus have not been disclosed in the filing.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

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TOPICS: Gandhinagar GIFT City Ministry of Steel NMDC