Jindal Steel & Power Limited (NSEI:JINDALSTEL) is planning to "seriously pursue" Neelachal Ispat Nigam Limited (NINL) for which the government is expected to open bids on December 23, 2021. "We are very serious about this asset. For us, the chances are also better, I think Though the highest bidder will get the chance, I think we can turn around the asset faster," JSPL Managing Director VR Sharma said during an interaction with ET.

Sharma is projecting a fair value of around INR 50 billion for the assets of NINL, including its land and mines. Several companies in the metal industry have submitted expressions of interest (EoIs) for NINL. From them, ArcelorMittal (ENXTAM:MT), JSW Steel Limited (BSE:500228), Megha Engineering & Infrastructures Limited, Tata Steel and JSPL are among firms that have been shortlisted.