Government of Singapore Investment Corporation, Deutsche Bank, Standard Chartered Bank and L&T Infrastructure have submitted their bids along with eight others with the Specified Undertaking of Unit Trust of India for acquiring its 40 per cent stake in the State Industrial Corporation of Maharashtra, the investment arm of the Maharashtra government.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
Currently, the Maharashtra government holds 49 per cent in Sicom, SUUTI 36.5 per cent and another 3.5 per cent stake is held by UTI AMC.
ICICI Securities, the merchant banker appointed by SUUTI for the stake sale, will hold talks with the interested buyers soon.
Sources said SUUTI was in talks with the state government also to offload its stake in Sicom.
Regarding this, a senior Sicom official said preliminary discussions were on.
If the government brings down its stake in the venture, SUUTI might get a high value, sources said adding, that this proposal was discussed with industry ministry officials.
Sicom has posted a net profit of Rs 33.98 crore in 2005-06, up 69 per cent from Rs 20.15 crore in the previous year.
Sicom offers advisory services to the state government, Maharashtra Electricity Regulatory Commission and other corporates.
The company is launching a second venture fund and would be soon offering merchant banking, treasury management, real estate development through subsidiary or joint ventures.
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