Department of investment and public asset management (DIPAM) has set February 13 as the last date for entries. For all bidders, the government has fixed the minimum net worth at Rs 2,000 crore as part of the eligibility criteria.
Interested parties may include public or private companies, limited liability partnerships, Sebi-registered alternative investment funds or any other fund eligible for investing in India. Employees of the company or management have been allowed to bid either directly and independently or by forming a consortium, but will have to adhere to government guidelines.
Central Public Sector Enterprises (CPSEs) are barred from bidding. In case of a sole bidder, the consolidated net worth would be on a consolidated basis. In case of a consortium, the lead member should have net worth of Rs 1,000 crore. Both categories should have positive Ebitda or earnings before interest, taxes, depreciation, and amortization in three of five financial years.
In case of funds, the net worth is 0.25 times of assets under management or 100% of committed capital. Submission of EoI by email by the end date has been allowed, but physical bids by such applicants must come in by March 1, DIPAM has specified.