Govt to sell 12.03% equity in ITDC


New Delhi: The government plans to sell 12.03 per cent paid-up equity in India Tourism Development Corporation (ITDC) to raise close to Rs260 crore. The central government currently holds 87.03 per cent of ITDC's equity capital.

Post sale, the government's stake will come down to 75 per cent. The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers to manage the stake sale, which will be carried out through the offer-for-sale (OFS) route. ''The Government of India intends to disinvest 12.03 per cent paid-up equity capital shares of ITDC,'' DIAPM said in the request for proposal.