Disinvestment of 10% government of India’s shareholdings in MOIL has been completed. The government earned INR 618.76 crore by disinvestment of MOIL.

In accordance with the Cabinet Decision, 51% shareholding (i.e. 7, 36,638 shares) of Government of India in Eastern Investments Company Limited under Bird Group of Companies was transferred to Rashtriya Ispat Nigam Limited. Thus RINL has become the holding company of Eastern Investments Company Limited and its subsidiaries Orissa Minerals Development Corporation and Bisra Stone Lime Company Ltd are now subsidiaries of RINL wef January 5th 2011