Govt seeks advisers on PSU's stake sales

NEW DELHI: Initiating the ambitious strategic sale of state run companies and consolidation among public sector enterprises, the government has invited applications for engagement as advisers for seven firms.

The companies identified for strategic sales where the government will also transfer management control include Bharat Pumps & Compressors, Bridge & Roof Co and Hindustan Fluorocarbons.

It has also sought application for advising on merger and acquisitions in four firms with similar placed state run companies. These four firms are Hindustan Prefab, Engineering Projects (India) Ltd, HSCC (India) Ltd and National Projects Construction Corporation The government intends to divest 100% equity in Bharat Pumps & Compressors Ltd through strategic sale with transfer of management control.


In September, the cabinet had given its nod for strategic sale of the Allahabad-based firm. The government will also exit out of Bridge & Roof Company and Hindustan Fluorocarbons (HFL) through strategic sale.

For the next fiscal, government has set a mammoth disinvestment target of `72,500 crore, of which `46,500 crore is come from regular stake sales including exchange traded fund (ETF).