(PTI)
The government has kicked off strategic disinvestment exercise for this fiscal by inviting bids from advisers for sale of its controlling stake in three PSUs of Container Corporation of India (Concor), NEEPCO and THDC India. Earlier this month, the Union Cabinet cleared a proposal of 30 per cent stake sale in Concor.
Presently, the government has 54.80 per cent shareholding in the company and with the stake sale, the government will lose the management control. Besides, the Cabinet had cleared government’s stake sale in power companies THDC India and North Eastern Electric Power Corporation (NEEPCO) to NTPC. In strategic disinvestment, a buyer also takes the management control.
“Government of India is considering selection of transaction adviser/legal adviser/asset valuer separately for two strategic disinvestment of Government of India existing paid up equity shareholding in two CPSEs under the administrative control of Ministry of Power,” the Department of Investment and Public Asset Management (DIPAM) said while inviting bids.
THDC India is a 75:25 per cent joint venture between the Centre and the Uttar Pradesh government. The central government owns 100 per cent stake in NEEPCO. Without naming Concor, a separate public notice said, the Government of India is considering partial disinvestment of its existing total paid up equity shareholding in a government company under Ministry of Railways along with transfer of management control.
