GURGAON, India -- 17th July 2014 New Delhi

The consortium of Resurgent India, a category I Merchant Banking firm and American Appraisal, one of the world’s largest independent valuation firms has been selected by Department of Disinvestment, Government of India to carry out valuation of Bharat Aluminium Company Limited (BALCO). Formal appointment is subject to approvals.

BALCO is a Private Undertaking in which the Government of India holds 49% equity stake as of December 31, 2013. The company was incorporated in 1965 as a Public Sector Enterprise of the Government of India and since then it has been closely associated with the Indian Aluminium Industry, in a pivotal role. Government of India (GoI) divested 51% equity in the year 2001 in favour of Sterlite Industries (India) Limited (SIL). Major operations of BALCO are in Korba (Chhattisgarh), whereas its mines supplying high grade Bauxite are situated at Kawardha and Mainpat.

About Resurgent India

Resurgent India is a growing Investment Bank and SEBI registered Category I Merchant Bank offering services like Mergers & Acquisitions, Private Equity, Debt Solutions, Structured Finance, Capital Market Solutions, Valuations and Enterprise Risk and Tax Services. It has closed more than 120 transactions across various sectors and successfully advised on transactions worth more than USD 500 million in 2013.

About American Appraisal

American Appraisal is one of world’s largest independent valuation firms with a presence in more than 24 countries and 60 offices globally. It provides valuation and related advisory services for business, financial, legal and tax purposes. American Appraisal's valuation expertise encompasses all classifications of tangible and intangible assets. It has worked with more than half of Fortune 500 companies.


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