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Government invites fresh EoI from bidders for strategic sale of EPIL

Following the 2016 Cabinet decision, the government had in October, 2017, invited bids for sale of EPIL stake to a similarly placed CPSE.

Published: 02nd July 2019 06:13 PM  |   Last Updated: 02nd July 2019 06:13 PM   |  A+A-

EoI

Expression of Interest

By PTI

NEW DELHI: The government has come out with a fresh preliminary information document inviting expression of interest (EoI) from bidders for strategic sale of consultancy firm Engineering Projects (India) Ltd.

The government intends to disinvest 100 per cent of its shareholding in EPIL along with transfer of management control through a competitive bidding process by way of sale of equity shares, said the Preliminary Information Memorandum (PIM).

The last date for submission of EoI by interested bidders for EPIL, which is under the administrative control of Heavy Industries Ministry, is August 13, 2019.

The Cabinet, had in February, allowed private sector entities, along with Central Public Sector Enterprises (CPSEs), to participate in the bidding for the strategic disinvestment of EPIL.

This was in partial modification to the October 2016 decision of the Cabinet, which had approved strategic disinvestment of EPIL through merger with a similarly placed CPSE.

Following the 2016 Cabinet decision, the government had in October, 2017, invited bids for sale of EPIL stake to a similarly placed CPSE.

However, no forward movement took place on the planned strategic sale.

The government has budgeted to raise Rs 90,000 crore through CPSE disinvestment in current fiscal, up from about Rs 84,972 crore raised last year.

So far in current fiscal, it has raised Rs 2,357 crore from disinvestment.

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