DIPAM fast-tracking divestment of select PSUs

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The Department of Investment & Public Asset Management, DIPAM, NITI Aayog, EPIL, B&R, HSCC, NPCC, CEL, Cabinet, CPSE, merger, acquisition, strategic disinvestment, Bridge & Roof Co. (India) Ltd, Air India, National Projects Construction Corporation Ltd, NPCC,  Engineering Projects India Ltd, EPIL, Hospital Services Consultancy Corporation, India  Limited, HSCC, Central Electronics Limited, CEl

The Department of Investment & Public Asset Management (DIPAM) published this week preliminary Information to fast-track the merger/acquisition of EPIL, B&R, HSCC, NPCC & CEL. Although the Cabinet had approved the strategic disinvestment of CPSEs by way of merger, acquisition and stake sale in November 2016, it’s taking time because the merger/acquisition is a time-consuming process.

The proposed merger/acquisition may be in line with the NITI Aayog’s move initiated in July 2016. In pursuance of the same, DIPAM had put up a Cabinet Note on 11 August 2016. The cases of merger and strategic disinvestment of CPSEs were discussed in the Cabinet Secretariat in the first week of September 2016 wherein some CPSEs including HSCC (under Ministry of Health & Family Welfare) and few had furnished their views on issues like pros & cons and viability of the merger.

DIPAM (earlier Department of Disinvestment) has already invited Expression of Interest for Strategic Disinvestment and merger/acquisition of six state-owned companies – Bridge & Roof Co. (India) Ltd; Air India & its subsidiaries; National Projects Construction Corporation Ltd (NPCC); NPCC’s merger/acquisition by a CPSE; Engineering Projects (India) Ltd (EPIL); Hospital Services Consultancy Corporation (India) Limited (HSCC); and Central Electronics Limited (CEl).

Interested parties may peruse through the following Links:

The Department of Investment & Public Asset Management

Preliminary Information Memorandum for inviting Expression of Interest for strategic disinvestment of HOSPITAL SERVICES CONSULTANCY CORPORATION (INDIA) LIMITED By Government of India through the Ministry of Health and Family Welfare

It has been decided to extend the date for submission of bids for engagement of Advisor
for strategic disinvestment of Central Electronics Limited (CEl).

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