The government is considering several options to bring the debt-ridden Rashtriya Ispat Nigam Limited (RINL) back on track, one of which is its merger with the Steel Authority. PTI has informed, quoting sources, that the government is looking at merger in its sale as an option for the revival of RINL. At the same time, PTI has informed, quoting sources, that the government is also looking at options like sale of land parcel to NMDC and bank loans to keep the RINL steel plant operational. Recently, an important meeting was also held between DFS Secretary, Steel Secretary and SBI officials on the issue of RINL. SBI has a big exposure in RINL.
 

In a PTI report, the source said that the government wants a permanent solution to the matter and one of the options being discussed is the merger of RINL and Steel Authority. The source further said that options are also being explored to raise capital to run the operations further. This includes raising additional funds from lenders and raising funds through the sale of land parcels of 1500 to 2000 acres to NMDC. In January 2021, the CCEA approved the sale of the government's entire stake in RINL. The total outstanding on RINL is Rs 35 thousand crore and the company is facing the risk of being declared an NPA by the bank.

In Friday's trading, the stock of Steel Authority of India saw a rise and the stock closed at 140.45 with a gain of about one percent. During trading, the stock also reached above the level of 144, the highest level of the stock for the year is 175.65. At the same time, the lowest level is 81.85.