NEW DELHI, Feb 8: The government is scouting for asset valuers to undertake valuation of two unlisted PSUs — Projects & Development India Ltd (PDIL), and Hindustan Prefab.
While the government is seeking an outright sale of PDIL to strategic buyers, it is looking at a possible merger with a similarly placed CPSE for Hindustan Prefab.
The asset valuer for PDIL will be appointed by the Ministry of Chemicals and Fertilisers. The Ministry of Housing and Urban Poverty Alleviation will name the valuer for Hindustan Prefab.
According to sources, these valuers would look for at least five different asset valuation methodologies, including relative peer review, discounted cash flow, balance sheet method and transaction multiple, for arriving at a valuation of the assets of these public sector undertakings.
The last date for sending in application for PDIL is February 28 while for Hindustan Prefab it is March 2.
PDIL is into consultancy and engineering, providing services for design, engineering and related project execution in fertiliser, oil and gas, refinery, chemical and infrastructure sectors.
Set up in 1948, Hindustan Prefab primarily manufactures prefabricated housing units to provide shelter to the displaced persons from West Pakistan.
The strategic sale of PDIL and Hindustan Prefab is likely only in the next fiscal beginning April.
The government has budgeted Rs 15,000 crore to come from strategic sale of PSUs. (PTI)