Deals
India Said to Weigh Scrapping Plan to Hire Banks for Stake Sale
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India is considering scrapping the banker appointment process for stake sales in five state-run companies including NMDC Ltd., India’s largest iron ore producer, people familiar with the matter said.
The Department of Disinvestment at India’s Finance Ministry, may not hire advisers for the asset sale following banker presentations earlier in the day, the people said, asking not to be identified as the information is private. The group of five companies, known as “Basket One,” also includes Oil India Ltd., MMTC Ltd., Container Corporation of India Ltd., and India Tourism Development Corp.