DIPAM News

The Appointments Committee of the Cabinet has approved designating Pandey as the finance secretary, the order issued by the personnel ministry said.

A public sector enterprise under the Ministry of New and Renewable Energy (MNRE), IREDA is engaged in the financing of renewable energy and energy efficiency projects.

For the next fiscal beginning April 1, the miscellaneous capital receipts have been pegged at Rs 61,000 crore.

As part of the primary dealer activity, IDBI Bank is involved in market making activities in respect of G-Secs, including T-bills. IDBI's treasury actively participates in primary auction of government bonds.

Secretary in the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey tweeted the details on his official Twitter account.

She noted that the principle of disinvestment is to make sure that privatised companies are in the right hands. The government has also lined up over half a dozen companies for strategic sale. So far, the government has mopped up over Rs 24,000 crore from CPSE disinvestment.

Centre is hiving off Shipping House and the training institute and some other non-core assets of SCI. The SCI board in August last year had approved a demerger scheme.

The last date for submitting expression of interest (EoI) was January 31. This was later extended till February 28. HLL is involved in manufacturing and marketing of a range of contraceptives, women's healthcare products, hospital supplies.

DIPAM had in January this year invited preliminary bids for strategic sale of NINL. The last date for bid submission was March 29. Multiple expressions of interest from bidders were received.

DIPAM website has listed MTNL assets located in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of around Rs 310 crore. MTNL's 20 flats are located in Oshiwara. The e-auction for MTNL assets will take place on December 14.

Pandey said that the government will invite financial bids for privatising as many as six CPSEs. These firms include BPCL, BEML and Shipping Corp. He said that cooperation from the private sector is also required.

Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd. The disinvestment department had invited applications for the appointment of merchant bankers on July 15. DIPAM is also in the process of appointing a legal adviser for the stake sale.

All the PSUs in the list will be privatised by FY22. The Centre is looking to privatise two public sector banks and one general insurance company. Sitharaman aspires that Indian banks need to be bigged, just like the State Bank of India (SBI).

Drawing strict timelines for listing of profitable PSUs, the government has mandated launch of initial public offer (IPO) within five-and-half months of a nod from the ministry concerned.

With the revamp of the existing CPSE ETF stuck in procedural hurdles, Finance Ministry is planning to launch a new Exchange Traded Fund (ETF) comprising stocks of 10 PSUs in the current fiscal.

With the revamp of the existing CPSE ETF stuck in procedural hurdles, Finance Ministry is planning to launch a new Exchange Traded Fund (ETF) comprising stocks of 10 PSUs in the current fiscal.

  NITI Aayog will submit a blueprint for divesting government's stake in some PSUs and strategic sale of those that have been sick for a long time by this month.

Setting the ball rolling on strategic sale of state-owned companies, DIPAM and NITI Aayog have started discussions to identify the PSUs that can be sold outright during the next fiscal.

Finance Ministry today said the rechristened Department of Disinvestment will ensure that the unlisted PSUs with huge cash piles either pay special dividend or buyback government shares and gradually move towards listing