New Delhi. If you have missed investing money in the IPO of a government company that came in the past, then now you are getting a big opportunity. Now another government company’s IPO will come, where you can earn money by investing money. Actually, the Center is preparing to sell the stake of the government company National Seeds Corporation (NSC – National Seeds Corporation). The government will sell up to 25 per cent stake in NSC through IPO and has invited bids from consultants to assist in the process.
Explain that this public sector company comes under the administrative control of the Ministry of Agriculture and Farmers Welfare. This company produces certified seeds of about 600 varieties of 60 crops. The total assets of the company as on March 31, 2020 were Rs 646 crore.
Bids are being invited
The Department of Investment and Public Asset Management (DIPAM) has invited bids from legal advisors and merchant bankers to assist in the transaction. They will have to submit their bids to the government by September 1. That is, the last date to apply for the appointment of merchant bankers and legal advisors is 1 September 2021.
Also read- Deposit 55 rupees in this scheme of the government and ₹ 36 thousand will come in your account, know how?
Government has 100% stake
According to DIPAM, the government will appoint two investment bankers to complete the IPO process. Let us tell you that the government has 100 percent stake in National Seeds Corporation. During the financial year 2019-20, this Mini Ratna PSU company had earned a net profit of Rs 29.92 crore. Its net worth as on 31 March 2020 was Rs 646.37 crore.
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