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Govt receives several expressions of interests for state-run PDIL

The government has laid down eligibility conditions for the bidders interested to participate in the process.

PDIL is part of the 17 ongoing transactions being processed by DIPAM

The Union government has received multiple expressions of interest (EoIs) from potential buyers for its 100% stake in Projects & Development India (PDIL).

“Multiple expressions of interest received for privatisation of Projects & Development India Limited (PDIL). The transaction moves ahead to the next stage,” Department of Investment & Public Asset Management secretary Tuhin Kanta Pandey tweeted. The government had appointed Resurgent India as transaction advisor for PDIL.

PDIL is part of the 17 ongoing transactions being processed by DIPAM. PDIL is an engineering and consultancy services provider, and it reported a net profit of Rs 19 crore and revenues of Rs130 crore in FY21.

The privatisation will go through a two-stage process: Shortlisting qualified bidders from EoIs in the first phase and financial bids from them in the second stage. The government has laid down eligibility conditions for the bidders interested to participate in the process.

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