The Department of Investment and Public Asset Management (DIPAM) has through an advertisement invited bids from registrars for disinvestment of up to 25 per cent stake each in Bharat Dynamics, Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders and Mishra Dhatu Nigam Ltd.
The bids have to be submitted by August 18 to DIPAM, which handles disinvestment of public sector enterprises, the tender said.
The Cabinet in April cleared the disinvestment of these 4 PSUs under the defence ministry, and thereafter DIPAM invited bids from merchant bankers and legal advisors for managing the stake sales.
The authorised share capital is Rs 125 crore and the paid-up equity capital is Rs 122.19 crore as on January 31, 2017.
Also Read
BDL earned a profit-after-tax (PAT) of Rs 563.24 crore in 2015-16 and has a net worth of Rs 1,652.23 crore.
Garden Reach Shipbuilders & Engineers was incorporated in 1934 and was taken over by the government in 1960. It primarily constructs warships and auxiliary vessels for the Navy and the Coast Guard.
Its authorised share capital is Rs 125 crore and paid-up share capital is Rs 123.84 crore as on January 31, 2017.
Miniratna PSU Mazagon Dock Shipbuilders (MDL) is the lead shipyard of India serving the nation's strategic requirements. At present, MDL is constructing three major warship building projects and one submarine project.
It was established as a public limited company in 1934. In 1960, the government took over the yard to further augment its warship development programme and incorporated it as a PSU under the ministry.
The authorised share capital of MDL is Rs 323.72 crore and paid-up share capital is Rs 249 crore as on March 31, 2016. The PAT for the fiscal 2015-16 is Rs 637.82 crore and its net worth stood at Rs 2,846.23 crore.
The authorised capital of the company is Rs 200 crore and the paid-up capital is Rs 187.34 crore as on January 31, 2017. Its PAT for the fiscal 2015-16 is Rs 118.03 crore while net worth stood at Rs 576.56 crore.
The government has already raised over Rs 8,800 crore through disinvestment in six companies, including selling stake in L&T through Specified Undertaking of Unit Trust of India (SUUTI), and one share buyback.
Disclaimer: No Business Standard Journalist was involved in creation of this content