Russell Credit highest bidder for AP government stake in VST
By Our Corporate Bureau | 30 Aug 2003
Hyderabad: Russel Credit, an arm of the ITC Ltd, has come up with the highest bid of Rs 215 per share for the 4.69-per cent Andhra Pradesh government stake in VST Industries Ltd. Aravali Securities Ltd has become the highest bidder for a stake in Sirpur Paper Mills.
The bids for purchase of government stakes in five companies (VST, ACC, Hyderabad Industries Ltd, Sirpur Paper and Tata Motors) were opened here on Friday at the Implementation Secretariat, an independent body overseeing the reform process here after the deadline that ended yesterday at 4 pm.
A bid evaluation committee will oversee the bids today and this will be put up before the cabinet subcommittee on 4 September, for final endorsement.