The department of disinvestment (DoD) will select merchant bankers and legal advisors for public sector undertakings (PSUs) in the first week of August, stepping up preparations for disinvestment in PSUs in FY16.
On August 5, seven merchant bankers, including Deutsche Bank, ICICI and SBI Capital, will make presentations to manage disinvestment in a basket of five PSU stocks consisting of NTPC (5%), Engineers India (10%), Bharat Electronics (5%), Nalco (10%) and Hindustan Copper (15%), according to official notifications issued on Thursday.
The department could select up to four merchant bankers for the basket. For the first time, bankers would be appointed for a basket of stocks to ensure greater involvement and marketing of disinvestments in both small and big companies. Two merchant bankers would also make presentations to manage disinvestment of 5% stake in Dredging Corporation of India on August 3. The department would also select legal advisors for Dredging Corporation, Oil India and Engineers India, NTPC and Bharat Electronics in the first week of August.