Uttar Pradesh has the highest number of them, followed by West Bengal. The government plans to sell the share held in 84 companies and has invited bids for 1.88 lakh sales of shares of 20 firms in the first round
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The government plans to sell the enemy property share held in 84 companies. According to a recent notification by the Department of Investment and Public Asset Management, Ministry of Finance, there are about 2.91 lakh enemy property shares in these 84 companies. The government intends to sell the shares in tranches and has invited bids for 1.88 lakh sales of shares of 20 companies.
The significant companies whose shares are up for sale in the first round include Mohan Meakin Ltd, Bharat Nidhi Ltd, The Peerless General Finance & Investment Co Ltd, and Spencer and Co Ltd.
As per the notification, 10 categories of buyers, including individuals, Qualified Institutional Buyers, NRIs, Hindu Undivided Families, trusts and companies, can buy these shares. SBI Caps is the selling broker and merchant banker for the sale of these shares. So far, these shares were managed by the Custodian of Enemy Property of India (CEPI).