Monday, October 3, 2022

Govt is looking to get consultants for strategic sale of PSU land, buildings

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New Delhi: As the government chases its divestment target of Rs 90,000 crores for the current financial year, the Finance Ministry has issued a notice looking for consultancy firms who will be responsible for assisting the government in selling land and building assets of public sector undertakings (PSUs).

A Request for Empanelment (RFE) has been floated by the Department of Investment and Public Asset Management (DIPAM) to empanel international property consultancy firms or any other firms engaged in transaction advisory services, asset monetisation or project management.
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The selected firm will assist DIPAM in divestment

The selected firm will help DIPAM in formulating a monetisation strategy with respect to land and building assets, conduct techno-economic feasibility studies of each of the assets, provide end-to-end transaction advisory services and ensure completion of transactions. They would also be responsible for preparing the bid document and conducting the bid process.

“A major portion of the …. (non-core) government assets is in the form of land and buildings, for the monetisation of which this RFE is being floated,” DIPAM said.

The non-core assets include land and buildings, brownfield operational assets such as pipelines, roads, mobile towers, electricity transmission lines. It could also include financial assets, like equity shares, debt securities, other hybrid/structured finance asset units and other miscellaneous assets.

What is the eligibility criteria?

Companies that have handled at least five transaction advisory projects in the last 10 years with respect to monetisation of land and building or have experience in ReIT listing can apply. Also, firms that fulfil the same experience criteria regarding monetisation of property assets of reputed public/private organisations or public-private partnership transactions would be eligible to apply.

Important dates

Eligible firms will have to submit their bids by July 1. The selected ones will be engaged by the DIPAM for a year, after which an extension of two years can be considered.

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