As per industry sources, over 11 merchant bankers, including Goldman Sachs, JM Financial and Axis Capital, are competing to manage the sale of the government’s 26.12 per cent stake in Tata Communications.
To this end, the merchant bankers will make presentations before the officials of the Department of Investment and Public Asset Management on February 9, 2021.
The government will sell its entire stake in Tata Communications Ltd (TCL), erstwhile VSNL, through an offer for sale and strategic sale route by March 20, 2021.
The other merchant bankers who are in the fray include ICICI Securities, Credit Suisse Securities, IDBI Capital Markets, Kotak Mahindra Capital, SBI Capital Markets, IIFL Securities, Yes Securities and Elara Capital.
