HLL, SCI among six companies identified for strategic sale
    HLL, SCI among six companies identified for strategic sale - Economic Times
    The govt currently holds 73.47 per cent stake in Dredging Corporation of India. At the current market prices, sale of this stake would fetch about Rs 1,400 cr to the exchequer.

    NEW DELHI: HLL Lifecare Ltd, the state-owned company that makes Moods condoms, could soon have private stakeholders.The company is among the several identified by the government for strategic sales as it plans to achieve a record disinvestment target for the current fiscal year.The other shortlisted companies are Shipping Corporation of India, HMT (International) Ltd, Rajasthan Electronics & Instruments Ltd, Goa Shipyard Ltd and HSCC (India) Ltd.The Department of Investment and Public Asset Management (DIPAM) has picked the companies from those identified by Niti Aayog as possible candidates for strategic sales.A senior government official confirmed the development and said that in most cases, the strategic sales will be conducted through a two-stage auction.“In the first round, we will invite bids from all interested parties and after reviewing the bids, we will enter into negotiations with the shortlisted bidders in the second stage,” he said.The government has already started looking at possible avenues for disinvesting from Air India, which includes a 49% stake sale, the official said.Companies identified earlier for strategic sales include Pawan Hans Ltd, BEML Ltd, Dredging Corporation Ltd and Bharat Pumps and Compressors Ltd.The government has set itself a disinvestment target of Rs 72,500 crore for this fiscal, of which Rs 15,000 crore is to come through strategic sales.In most cases, the decisions are arbitrary and just on the basis that the government should not be in those sectors as there is substantial private participation,” said an officer of secretary rank at an administrative ministry, who did not want to be named.Another government official said DIPAM should first concentrate on divesting loss-making companies rather than going ahead with stake sale in profitable firms.“If these firms are profitable, they must be doing something right.

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