Govt to empanel merchant bankers and law firms for OFS, dribbling

The government has sought proposals from merchant bankers and legal advisors which will be empanelled for two years and help government divest its holdings through dribbling or issuing offer for sale (OFS) of central public sector enterprises from time to time.

The department of investment and public asset management (DIPAM) has asked for proposals by October 20.


"The GOI envisages to disinvest its shareholding in CPSE’s through the Offer for Sale through Stock Exchange Mechanism/sale of Shares in stock market (Dribbling) from time to time for which this Request for Proposal (RFP) for Empanelment of merchant bankers-cum-selling brokers is being floated," the department said in a tender notice on Thursday.

A similar notice seeking legal advisors has been floated, with the same end date.

Merchant bankers-cum-selling brokers can apply in four categories - for all transactions, upto Rs 700 crore, from Rs 700 crore to Rs 2,000 crore and upwards of Rs 2,000 crore.