Balmer Lawrie & Company, whose 61.97 per cent stake is slated to be divested by the Centre, is unlikely to be sold off during the current fiscal.

Sources in the divestment department told PTI that though the company had been earmarked for sell-off in the current financial year, the delay in Hindustan Petroleum Corporation and Bharat Petroleum Corporation divestment deals had upset the schedule for Balmer Lawrie.

After the completion of data room visits by six bidders in last December, the ministry of divestment had given the nod to SBI Capital Markets, global advisors of Balmer Lawrie, to allow the bidders to visit various plant sites of the company.

The company, engaged in diversified activities of grease, lubricants, tea, travel and containers, has plants located in Mumbai, Kolkata, Chennai and Mathura.

Although the first date for visiting the plant sites was February three, not a single bidder arrived for carrying out inspection, the sources in the company said.

The next date for plant visits is February 19 to be followed by four different dates for all the bidders.

Going by this schedule, the financial bids cannot be invited by the end of the current financial year.

The six bidders for Balmer Lawrie's stake were Gujarat Glass, Uttam Galvanising, Patton Limited, Srei International, Adani Group, Maharashtra Seamless.

The sources said since the company had not been restructured before divestment, the government had not been able to attract serious bidders who were specialised in their business areas.