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Govt invites transaction advisor for FSNL disinvestment

Govt invites transaction advisor for FSNL disinvestment
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Govt invites transaction advisor for FSNL disinvestment

Govt invitations transaction advisor for FSNL disinvestment

PSU disinvestment 1200As on March 2020, FSNL had 685 staff together with 542 non-executives.

The federal government has invited request for proposal for partaking transaction advisor for the strategic disinvestment of state-run Ferro Scrap Nigam (FSNL), an organization that earned Rs 31-crore web revenue on a income of Rs 410 crore in 2019-20.

The federal government will switch administration management of FSNL, a 100% subsidiary of MSTC, which is beneath the executive management of the metal ministry. FSNL is a mini ratna firm included in 1979. It’s a pioneering organisation within the discipline of metal mill providers and is at present working in eight metal crops throughout the nation.

The final date for submission of the bid is November 23.

“The advisor will likely be required to undertake duties associated to all elements of the strategic disinvestment course of culminating into profitable completion of the transaction,” the federal government mentioned within the discover.

It will additionally require to advise authorities on the modalities and the timing of the strategic disinvestment of FSNL whereby it might put together and submit an in depth operational scheme to efficiently implement the strategic disinvestment course of, indicating tentative timeline for every exercise, it mentioned.

As on March 2020, FSNL had 685 staff together with 542 non-executives.

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