After the Government last month cleared the sale of its stake in Hindustan Zinc ltd (HZl) through the auction route, an inter-ministerial panel has begun the process of its valuation and also that of Balco (where too the Government has a residual stake) so as to complete the deals by March-end.
"We are in the process of valuing the two companies. The inter-ministerial group (IMG) discussed the issuance of Request For Proposals (RFP) for valuation of HZl and Balco," Disinvestment Secretary Ravi Mathur said on Friday. The Government holds 49 per cent stake in Balco and 29.5 per cent in Hindustan Zinc ltd (HZl). "We are working very hard to make it happen by March," Mathur added.
The Government had budgeted to collect Rs 14,000 crore through residual stake sales in private companies this fiscal. last month, the Cabinet had cleared the stake sale in HZl through auction route though a decision on Balco is yet to be taken. During 2001-03, the Government had sold majority stakes in the two erstwhile PSUs to the Vedanta group.