Zee Business Exclusive: Top DIPAM sources tell us that government is expediting its process of disinvesting state run Balmer Lawrie & Co. ltd. As per high official privy sources, an Inter-ministerial group meeting is likely to be held within next 10 - 12 days to finalize the terms. SBI Capital Markets Ltd which is advising the department of investment and DIPAM in managing sale of this will also make a presentation to a committee headed by NITI Aayog CEO Amitabh Kant. SBI Cap Markets has been asked to work on certain modifications in its presentation.

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Balmer Lawrie is a Mini-ratna under the ministry of petroleum and natural gas and is present in eight businesses —travel and vacations, industrial packaging, greases and lubricants, leather chemicals, logistics, logistics infrastructure, logistics services, and refinery and oil field services.

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Sources also share that Balmer Lawrie's eight businesses are likely to be sold off separately as part of the government’s disinvestment plan. DIPAM will proceed to finalize terms after IMG meeting, and then a transaction advisor is likely to be appointed to monitor the privatization process.

Balmer Lawrie will be the second PSU after BPCL under the oil ministry to be put up for disinvestment. The government owns 59.67% of Balmer Lawrie, which employs 1,076 people

The government has set a record Rs 2.1 trillion as the disinvestment target that the finance ministry announced in the budget for 2020-21.