AP divestment plan gets good response

HYDERABAD: The Andhra Pradesh government’s offer to divest its stakes in five leading listed companies is getting encouraging response from potential buyers like foreign institutional investors, mutual funds and leading share brokers, according to officials of the state’s Implementation Secretariat.
The companies where the state government divesting its stake are: Telco, ACC, Sirpur Paper Mills, Hyderabad Industries and VST.
For the first four companies, the implementation secretariat, which is overseeing the divestment process of the state government, has given a public notice, while also approaching FIIs, MFs and leading share brokers. As for divesting the government stake in VST, the implementation secretariat has approached select shareholders who own 1% or more stake in the company, they said in a press release.
The last date for registering interest to buy the stakes has been set as August 14.