Govt to sell up to 25% stake in National Seeds Corp; seeks advisors for IPO

Govt is also looking to appoint up to two merchant bankers who would have handled OFS of at least Rs 1,000 crore, and an IPO of Rs 500 crore in the past three years

The government will sell up to 25 per cent stake in National Seeds Corporation (NSC) through an initial public offering (IPO), and has invited bids from advisors to assist it in the process.

The public sector company comes under the administrative control of the Ministry of Agriculture and Farmers Welfare, and produces certified seeds of nearly 600 varieties of 60 crops. The company’s net worth, as on March 31, 2020, was Rs 646 crore.

The Department of Investment and Public Asset Management (DIPAM) has invited bids from legal advisors and merchant bankers to assist in the transaction. Intermediaries will have