Stock advisory Company, Canara Bank to hire investment bankers for sale of non-core assets

Canara Bank has invited bids and plans to impanel a minimum of three investments bankers who will procure the maximum valuation for stake sale in various non-core assets as well as scout potential buyers

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State-run Canara Bank Ltd plans to hire investment bankers to help it sell stakes in some assets that are unrelated to its main lending business.

The idea behind the sale of its so-called non-core assets is to unlock the value of its strategic investments, according to a tender notice on the bank’s website.

Canara Bank has invited bids and plans to impanel a minimum of three bankers who will procure the maximum valuation for its stake in various non-core assets as well as scout potential buyers.

The bank has eight domestic subsidiaries, including Canbank Financial Services Ltd, Canbank Factors Ltd, Canara Robeco Asset Management Co. Ltd, and Canara HSBC Oriental Bank of Commerce Life Insurance Ltd.