The federal government is planning to promote its total 63.75 per cent stake in Delivery Company together with switch of administration management.
“The Preliminary Data Memorandum (PIM) will probably be issued this week and bidders may have time until mid February to submit EoI,” the official instructed .
The Division of Funding and Public Asset Administration (DIPAM) is working in the direction of concluding the sale within the present monetary yr as there may be good investor interest and the transaction measurement isn’t huge.
Shares of Delivery Corp closed at Rs 86.55, up 3.22 per cent over the earlier shut on the BSE on Friday.
On the present market worth, the federal government’s stake in Delivery Corp is valued at Rs 2,500 crore.
The Cupboard Committee on Financial Affairs in November final yr gave in-principle approval for the strategic divestment of Delivery Corp. Nevertheless, the plans have been delayed because of the pandemic. The 2020-21 Finances has set a report divestment goal of Rs 2.1 lakh crore.
The federal government has to date raised Rs 11,006 crore via minority stake sale in CPSEs this fiscal yr. Strategic sale strategy of BPCL and Air India is ongoing and each the businesses have obtained “a number of” expressions of Curiosity (EoI) from potential consumers.