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THE government may rope in merchant banker NM Rothschild to put in place a detailed roadmap for selling stakes in state-owned companies, according to a finance ministry official.
"We are also working on an advisory panel on disinvestment, which could include Accenture, McKinsey and Ernst & Young, among others," the official said, requesting anonymity.
The ministry is in the final stages of talks with NM Rothschild, which will draw from its experience of assisting the UK government in its privatisation drive of the 1980s, to advise the Indian administration, among other things, on arriving at reasonable valuation figures for the state-owned companies.
Rothschild was involved in the multi-billion dollar privatisation programmes of British Gas, British Steel and British Coal.
BSNL, aviation major Nacil, Coal India and steel company Rashtriya Ispat Nigam are some of the central public sector units (CPSUs) where the government is looking to sell its stake in the first round.
The government will invite bids for advisors and lead managers for each public issue, once it is decided which companies will be the first to hit the market. It will also seek consent from the boards of the respective companies.
"We have already provided comprehensive and transparent guidelines for the selection of these advisors. If things work out as expected, the bids for lead managers in disinvestment candidates can be expected by early August," the official said.
The finance ministry is not keen on setting a target for disinvestment receipts, as the listing of these companies and dilution of stakes will depend on dynamic factors, including prevailing market conditions.
"We are also working on an advisory panel on disinvestment, which could include Accenture, McKinsey and Ernst & Young, among others," the official said, requesting anonymity.
The ministry is in the final stages of talks with NM Rothschild, which will draw from its experience of assisting the UK government in its privatisation drive of the 1980s, to advise the Indian administration, among other things, on arriving at reasonable valuation figures for the state-owned companies.
Rothschild was involved in the multi-billion dollar privatisation programmes of British Gas, British Steel and British Coal.
BSNL, aviation major Nacil, Coal India and steel company Rashtriya Ispat Nigam are some of the central public sector units (CPSUs) where the government is looking to sell its stake in the first round.
The government will invite bids for advisors and lead managers for each public issue, once it is decided which companies will be the first to hit the market. It will also seek consent from the boards of the respective companies.
"We have already provided comprehensive and transparent guidelines for the selection of these advisors. If things work out as expected, the bids for lead managers in disinvestment candidates can be expected by early August," the official said.
The finance ministry is not keen on setting a target for disinvestment receipts, as the listing of these companies and dilution of stakes will depend on dynamic factors, including prevailing market conditions.
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