CMC Ltd has informed BSE that a meeting of the board of directors held on October 16 has reconstituted the board of directors of the company. The new board comprises Mr S Ramadorai, chairman, Mr SS Ghosh, managing director, Mr Ishaat Hussain, Director, Mr R Ramanan, director, Mr YS Bhave, government nominee, Dr UP Phadke, government nominee, Dr KRS Murthy, independent director, Mr S Singh, independent director, Mr S Shroff, independent director and Mr CB Bhave, independent director.

The government of India recently divested 51 per cent holding in CMC to Tata Sons for Rs 152 crore.

Post-acquisition, the Tatas have made an offer to acquire 16.69 per cent public shareholding of CMC at a price of Rs 281.26, which will open on November 27 and close on December 26.

Post-disinvestment, Tata Sons holds 51 per cent in CMC, while 32 per cent lies with the government and the rest with the public.