<h1>Konoike Transport wins bid for FSNL disinvestment at Rs. 320 crore, surpassing reserve price in competitive process.</h1> M/s. Konoike Transport Co. Ltd. has been approved as the strategic buyer for the disinvestment of Ferro Scrap Nigam Limited (FSNL), a 100% subsidiary of MSTC Ltd. The transaction, valued at Rs. 320 crore, was conducted through a competitive bidding process overseen by the Cabinet Committee on Economic Affairs. FSNL, under the Ministry of Steel, specializes in processing scrap from steel production. Konoike's bid surpassed the reserve price and outbid M/s. Indic Geo Resources Pvt. Ltd. The transaction will proceed with final steps, including issuing the Letter of Award and signing the Share Purchase Agreement.