ArcelorMittal S.A. (ENXTAM:MT), Jindal Steel & Power Limited (NSEI:JINDALSTEL), and JSW Steel Limited (BSE:500228), are in the race to buy the steel plant of NMDC Limited (BSE:526371) (NMDC) in Chhattisgarh. The steel plant is set to be listed separately on 20 Feb. 2023 and the Government of India plans to privatise it by end-Mar 2023.

The plant's listing will give an indication on the valuation of the company and the premium. The book value of the steel plant is INR 170,000 million or INR 58 a share. The steel plant has a capacity of three million tonnes per annum and is located close to iron ore mines.