• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Hyderabad , Aug. 18

THE Implementation Secretariat (IS), the independent body overseeing the public enterprise reform and disinvestment process, has sent documents to all those registered for the divestment process of few listed companies in which the Andhra Pradesh Government holds stake.

The last date for submission of their respective offers is August 29. The bids have to be submitted along with EMD of 25 per cent of the offered purchase price or bank guarantee for the similar amount.

The IS will open the bids on the same day at a staggered timing as indicated in the time schedule attached to the bid documents.

In response to the Government's invitation of offers from persons to buy the State's shareholding in the five listed companies - ACC, HIL, SPML, TELCO and VST - the IS has received overwhelming response from a cross-section of investors including shareholders, financial institutions, competitors and individuals.

The State Government received registration of interest from 27 interested parties.

ACC, TELCO and VST got six registrations each, followed by HIL with five registrations and SPML ended up with four registrations.

In the case of VST, interested persons have been allowed to submit registration by e-mail till August 19 and by hand delivery till 4 p.m. on August 20.

The IS said in a statement that it e-mailed the separate bid documents with respect to each of the companies that includes prescribed format to submit the offer, specimen bank guarantee as also the time schedule.

Article E-Mail :: Comment :: Syndication

Stories in this Section
NISIET campus interviews

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line