December 9, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Non-core asset monetisation: Govt invites bids to sell 6 BSNL, MTNL assets

Kicking off the non-core asset sale exercise, the Department of Investment and Public Asset Management (DIPAM) has invited bids to sell six assets of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) through its new asset monetisation portal.

“Non core (sic) asset monetisation commences with the first set of six properties of BSNL/ bid out on the MSTC portal,” Secretary Tuhin Kanta Pandey tweeted.

The government is planning to sell land parcels worth over Rs 600 crore in the first phase through the new online bidding platform, Business Standard had reported earlier. This will be the first sale of assets through the new e-bidding platform developed by state-run MSTC.

Sale of non-core assets such as land parcels or real estate of over Rs 100 crore is being managed by DIPAM, and is similar to the pipeline of core assets created for monetisation by the NITI Aayog. The idea is to put idle land parcels of state-owned entities to use, and realise their value. The effort is on the lines of the National Monetisation Pipeline (NMP) — where the government aims to monetise underutlised assets), but would only include non-core assets. Unlike the NMP, in case of PSUs’ land sale, the ownership of assets will be transferred.

The government is looking to monetise land parcels worth Rs 10,000 crore through the new e-bidding platform, Business Standard had reported earlier. The pipeline of land assets has been prepared after discussions with consultants appointed by DIPAM, which include CBRE South Asia, Deloitte Touche Tohmatsu India, Boston Consulting Group, JLL Property Consultants (India), Knight Frank India, among others.

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