For the stake sale of Haldia Petrochemicals (HPL), final price bids are expected to be submitted by mid September, according to officials with direct knowledge of the matter. Earlier, West Bengal government, which holds about 40 per cent stake in eastern IndiaÂ’s biggest petrochemical company had said it will select the final bidder by end of September. That looks almost impossible as bidders had raised issues with the share purchase agreement.
Tag: stake sale
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Govt to raise Rs 350 cr via stake sale in NLC
The Union government's 3.56 per cent stake sale of Neyveli Lignite Corporation (NLC) through the institutional placement route was scheduled to hit the markets on August 2 and is expected to fetch around Rs 350 crore to the exchequer. The government is selling 3.56 per cent stake or over 5.58 crore shares in NLC through an institutional placement programme (IPP) in which the Tamil Nadu based state entities would be given preference while allotment of shares.
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IMG to shortlist bankers to manage stake sale in IOC
The inter-ministerial group (IMG), headed by Disinvestment Secretary Ravi Mathur, would shortlist five merchant bankers for managing the 10 per cent government stake sale in Indian Oil Corporation (IOC). The five merchant bankers would be shortlisted from among 17 banks, who would make presentations to the IMG