Sbi Caps Bags Ibp Selloff Mandate

The government has appointed SBI Capital Markets as the sole global advisor for the proposed disinvestment of 61.8 per cent stake in Balmer Lawrie & Co, which is held by IBP Co. Ltd.

Balmer Lawrie is a multi-product, multi-location diversified business organisation operating in various industrial segments. The industrial segments include manufacture of steel barrels and drums, LPG cylinders, specialty greese and lubricants, leather performance chemicals, blending and export of tea, operation of tours and travels and management of container freight stations.

Established in 1867, Balmer Lawrie is the largest manufacturer of steel barrels and speciality greases in India. It is also the largest travel services operator in India.

 

The company has recorded a net profit of Rs 6.01 crore on a turnover of Rs 769.46 crore in 2000-01. The net worth of the company stood at Rs 171.37 crore as on March 31, 2001.