Govt scouts for asset valuers for PDIL strategic sale

The government is looking for entities to value the assets of Project & Development India Ltd (PDIL) for its proposed strategic sale.

The scope of work for the asset valuer is to carry out the valuation of all assets of PDIL, including its plant and machinery, land and buildings, furniture and fixtures, and civil infrastructure, said the Request for Proposal (RFP) floated by the Department of Investment and Public Asset Management (DIPAM).

"DIPAM in the process of Strategic disinvestment of 100 per cent GoI equity shareholding in PDIL through strategic sale with transfer of management control, on the behalf of Government of India, requires the services of a reputed Asset Valuer to carry out a diligent and fair assets valuation of PDIL and assist Government in the process," it said.

In estimating the market value of assets, the valuer would have to clearly identify assets and properties, including intangibles such as trademark, and title to property rights.

The valuer will collect information and conduct due diligence of matters like market information quotations and offers of similar assets sold or available in close proximity to the property.

Interested asset valuers should have successfully completed at least one valuation in the last three years (January 2017 to December 2019) of assets of similar nature of a value of Rs 1,000 crore or more, the RFP said. Also, the valuer should have minimum average annual turnover of Rs 10 crore in three previous financial years.

The government has set a target of Rs 1.20 lakh crore to be mopped up from CPSE disinvestment in next fiscal beginning April.