Videocon, Kotak Mahindra seen interested in picking the stake
The government of Maharashtra and the Unit Trust of India (UTI) are looking at divesting 26 per cent of their stakes in Sicom to a strategic investor.
According to Sicom sources, Videocon and Kotak Mahindra have evinsed interest in picking up this stake.
Currently UTI has a 40 per cent in the non-banking finance outfit, while Maharashtra has a 49 per cent stake. UTI is looking at divesting 14 per cent, while Maharashtra is looking at divesting 12 per cent stake.
An expression of interest was floated last November for which Videocon and Kotak Mahindra had shown interest. KPMG was assigned the job of finding a strategic partner by the stake holders.
Sicom is looking at access to cheap sources of funds and also into collaborations for funding for small and medium enterprises etc.
It had also appointed Ernst and Young for reorganising the organisation.
Sicom has been reorganised into four strategic business units (SBUs)
