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Public sector lender IDBI Bank today invited prospective buyers or investment bankers to purchase shares in a wide range of companies. The Mumbai-based lender has listed 68 companies, where it intends to sell between 2 and 31 million shares.
Some of these companies include Alexcon Foamcast, Dev Fasteners, Viral Syntex, Twenty First Century Battery and Western India Industries.
To be sure, most of these are small companies, some are listed on BSE but trading is either suspended or they have thin volumes.
In a notice, the lender said it would not accept bids for individual company but only consolidated offers for all the companies. IDBI Bank will accept bids till October 7, 2013.
"Each bidder may conduct its own independent investigation and analysis before submitting their bids. Bank makes no representation or warranty and shall incur no liability under any laws, statutes, rules or regulation and its liability will stand extinguished on receipt of payment from the successful bidders and handing over of the original share certificates along with signed transfer deed," IDBI Bank said.
The bank said most of the share certificates of these companies are in 'jumbo' form and it would deliver them in Mumbai.
