Authorities launches international tender for the divestiture of PDIL and HLL Lifecare

The Ministry of Finance on Tuesday launched a worldwide tender for the strategic sale of Initiatives & Growth India Restricted PDIL and HLL Lifecare Restricted as a part of the divestment course of.

The deadline for submitting bids is January 31 for each public entities.

“GoI invitations Expression of Curiosity (EoI) for Strategic Divestment / Privatization of Initiatives and Growth India Restricted PDIL. Deadline for receipt of EoIs: 31.01.2022, “DIPAM mentioned on Twitter.

PDIL is a Class 1 public sector enterprise of Miniratna below the executive management of the Fertilizers Division, Ministry of Chemical substances and Fertilizers, Authorities of India.

The corporate is principally engaged within the provision of engineering and consultancy providers within the design, engineering and execution of associated tasks from the design to commissioning of varied tasks.

As of March 31, 2021, PDIL had paid-up share capital of Rs 17.30 crore, earnings of Rs 142.17 crore and internet revenue of Rs 31.83 crore.

“GoI invitations Expression of Curiosity (EoI) for the Strategic Divestment / Privatization of HLL Lifecare Restricted (HLL). Deadline for receipt of EoIs: 31.01.2022, “the Division of Funding and Public Asset Administration (DIPAM) mentioned in one other tweet.

The HLL is a Miniratna PSU below the executive management of the Union Ministry of Well being. It was included in 1966 below the Firms Act 1956 and is wholly owned by the Indian authorities.

In one other tweet, DIPAM mentioned the federal government obtained roughly Rs 188 crore, Rs 370 crore and Rs 58 crore respectively from NALCO, Energy Finance Company and Cochin Shipyard Ltd as installments of dividends.

As well as, Electronics Company of India Ltd paid round Rs 54 crore whereas Mazagon Dock Shipbuilders Restricted and MIDHANI paid Rs 31 crore and Rs 22 crore respectively as installments of dividends, he mentioned.

Within the present monetary 12 months 2021-22, thus far Rs 9,329.90 crore has been obtained by means of a sale of minority stake in CPSE in addition to the sale of the stake in SUUTI.

The method of privatization of BPCL, Pawan Hans, BEML, Delivery Corp of India (SCI), Neelachal Ispat Nigam Ltd and RINL is underway.

The finances for 2021-2022 has set a divestment goal of Rs 1.75 lakh crore. Of this quantity, Rs 1 lakh crore will come from the sale of the federal government’s stake in public sector banks and monetary establishments, and Rs 75,000 crore will come from CPSE divestment proceeds.

Supply hyperlink

About Michael Foreman

Check Also

Innoviti closes first $ 10.7 million tranche in ongoing Sequence D spherical

The present spherical has been led by Trifecta Debt Fund, Patni Advisors and Bessemer Enterprise …