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Bajaj, PiaggioStake divestment
Top Ministry officials had recently said that after a Board for Reconstruction of Public Sector Enterprises (BRPSE) recommendation, it is now looking to divest a controlling 74 per cent stake in SIL. This will include the around 150-acre near the airport and equipment that the company possesses.
The Government, meanwhile, will clear old debts of about Rs 100 crore, but expects fresh investments to flow in from the private party.
SIL was started by the Government in 1972, after buying out the plant, machinery, design, documentation and product copyrights from Innocenti of Italy.
Although it used to make scooters earlier under the Vijai Super and Lambretta brands, it currently makes only passenger and goods carriage three-wheelers under the brand Vikram.
Source: The Hindu Business Line : M&M eyes Scooters India for 2-wheeler biz expansion
Top Ministry officials had recently said that after a Board for Reconstruction of Public Sector Enterprises (BRPSE) recommendation, it is now looking to divest a controlling 74 per cent stake in SIL. This will include the around 150-acre near the airport and equipment that the company possesses.
The Government, meanwhile, will clear old debts of about Rs 100 crore, but expects fresh investments to flow in from the private party.
SIL was started by the Government in 1972, after buying out the plant, machinery, design, documentation and product copyrights from Innocenti of Italy.
Although it used to make scooters earlier under the Vijai Super and Lambretta brands, it currently makes only passenger and goods carriage three-wheelers under the brand Vikram.
Source: The Hindu Business Line : M&M eyes Scooters India for 2-wheeler biz expansion
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