NBCC to buy HSCC for Rs 285 crore

By: | Published: September 13, 2018 10:24 PM

NBCC said Thursday it will buy out 100 per cent government stake in consultancy firm HSCC for Rs 285 crore.

real estate sector, real estate industryIn June 2018, NBCC had submitted financial bid for buying HSCC.

NBCC said Thursday it will buy out 100 per cent government stake in consultancy firm HSCC for Rs 285 crore.

“DIPAM intimated vide letter dated September 13, 2018 that NBCC has been selected as the buyer for 100 per cent strategic disinvestment of HSCC at a bid amount of Rs 285 crore,” NBCC said in a filing to the BSE.

The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 per cent stake in HSCC, along with management control.

Thereafter in June 2018, NBCC had submitted financial bid for buying HSCC.

Hospital Services Consultancy Corporation (HSCC), under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in health-care and other social sectors in India and abroad. The government will also transfer management control through a competitive bidding process by way of sale EPI stake to a similarly placed CPSE.

In the current fiscal, the government plans to raise Rs 80,000 crore through strategic sale of PSUs. So far this fiscal, it has raised over Rs 9,000 crore through disinvestment.

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