The Union ministry has already reached out to the Department of Investment and Public Asset Management (Dipam) for a road map for the stake sale, the people said on the condition of anonymity.
"The ministry of mines has now sought fresh advice from Dipam on the roadmap for the disinvestment of Balco, which has been in the works for several years. Once this is finalized, the process to appoint transaction advisers and legal advisers may be initiated to start the share sale plan in Balco in the next year," one of the two persons cited above said.
The government sold a 51% stake in Balco to Sterlite Industries Ltd, a unit of Vedanta Ltd, as part of its privatization in 2001 but continued to hold the rest.
This story is from the March 28, 2023 edition of Hindustan Times.
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This story is from the March 28, 2023 edition of Hindustan Times.
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