New Delhi: Public sector construction major NBCC Limited has finally got a green signal from Competition Commission of India (CCI) for acquisition, over 100 per cent stake buy out in consultancy firm HSCC. NBCC last month was selected as the buyer for 100 per cent strategic disinvestment of HSCC at a bid amount of Rs 285 crore by the government.
100 Per Cent divested
In October 2017, the government had invited bids from CPSEs for buying out entire 100 perent stake in HSCC, along with management control. In June 2018, NBCC had submitted a financial bid for buying HSCC. Later on Tuesday, The CCI tweeted that- the CCI approves the acquisition of 100 per cent equity shareholding in HSCC by NBCC.
Still far away from the 80,000-crore target
In the current fiscal, the government plans to raise Rs 80,000 crore through strategic sale of PSUs and so far they haven’t even reached the quarter mark. Hospital Services Consultancy Corporation (HSCC), under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in healthcare and other social sectors in India and abroad.
HSCC (India) Limited
HSCC (India) Limited, earlier known as Hospital Services Consultancy Corporation Limited is a ‘Miniratna’ PSU under the Ministry of Health & Family Welfare. HSCC is a multi-disciplinary consultancy and procurement management service organisation working in the healthcare and other social infrastructure development sectors.
PSU Watch is a business news brand of 27 Frames Communications LLP. It places the spotlight on PSUs, Governance, Bureaucracy, Defence and Public Policy as the sector traverses through a period of radical change.