Taking the disinvestment process in NTPC and Satluj Jal Vidyut Nigam forward, the government is scouting for lead managers to advise it on the timing of the two public issues.
The Disinvestment Department in the Finance Ministry has invited Request for Proposals for book running lead managers for the issues.
"The government will select and appoint up to four merchant bankers with requisite experience in public offerings, who together will form a team and be called Book Running Lead Managers (BRLM)," the department said.
The lead managers are expected to ensure best returns to the government through these two issues and would perform all other responsibilities connected with the public offerings.
While bidders interested for the NTPC issue should have handled domestic or international equity issues of the size of Rs 500 crore or more during the last three years, the requirement for SJVNL is Rs 100 crore or more.
Last month, the Cabinet Committee on Economic Affairs (CCEA) gave its nod for diluting 5 per cent government stake in NTPC through a follow-on offer (FPO) and 10 per cent in the Satluj Jal Vidyut Nigam (SJVNL) through an initial public offer (IPO).
The government currently holds 89.50 per cent in NTPC, while it has 75 per cent stake in SJVNL.
