Disinvestment target News

The Central government had a disinvestment target of Rs 1.75 lakh crore for FY22. The government is likely to disinvest BPCL, RINL and Pawan Hans. The Centre has also received three bids for Pawan Hans.

Speaking at the AGM of industry chamber Ficci, the finance minister also said that Air India disinvestment plan is moving expeditiously and is on track.

On the opening day of the sale, which was open to non- retail investors, over 38.66 crore shares were bid till 1425 hours, according to stock exchange data. This was 1.17 times of the 32.98 crore shares reserved for them.

The HUDCO initial public offering (IPO) saw an exceptional level of interest and the Issue as a whole was oversubscribed by more than 79 times. Bids worth Rs. 97,000 crores were received for an issue size of Rs. 1,200 crores.

The government hopes to overshoot the Rs 45,500 crore disinvestment target for the current fiscal amid strengthening of equity markets.

Government will sell 26 percent stake in defence equipment manufacturer BEML, making it the first major PSU to be sold through strategic disinvestment, which may fetch the exchequer over Rs 1,000 crore.  

Rejecting need to dilute stake in private companies through SUUTI route, government has said that it is certain to meet its disinvestment target for the current fiscal through offloading minority interests and strategic sale of state-owned companies.

The government aims to collect Rs 56,500 crore through disinvestment in PSUs in the next fiscal, as per the Budget for 2016-17.

The government will have to go through a "very difficult process" of pushing reforms and projects to propel India to a high-growth path as it will not happen through some magic wand, Chief Economic Advisor Arvind Subramanian said today.

Government on Friday raised Rs 640 crore through 10 percent stake sale in Engineers India Ltd (EIL) with its offer for sale getting oversubscribed by an impressive 2.54 times.

 The Union Cabinet on Wednesday approved 10 percent stake sale in Coal India that could fetch up to Rs 20,000 crore to the exchequer.

Taking a leaf out of private firms, the Department of Disinvestment (DoD) wants listed PSUs to be more proactive in investor contact and keep them updated on company plans so as to facilitate a share sale on short notice to capture market highs.

Confident of meeting the "ambitious" disinvestment target of Rs 69,000 crore this fiscal, Finance Minister Arun Jaitley on Monday said the government has moved fast so far and all routes are open on this front, including strategic sale of hotels.  

With the successful sale of 6.60 crore shares in Power Finance Corp (PFC) through a one-day OFS route at a floor price of Rs 254 apiece, the government would get over Rs 1,600 crore.

Downturn in the stock markets on fears of a deficient monsoon and the impending hike in interest rates in the US will make it difficult for the government to meet its ambitious disinvestment target of Rs 69,500 crore for the current fiscal.

Government on Friday said it has no plan to divest its stake in ailing state-run telecom firm BSNL and national carrier Air India, which have been incurring huge losses.

Under the new norms, Sebi has proposed to drastically cut the timeline for listing of shares within 2-3 days of the IPO, as against 12 days currently.

The Cabinet Committee on Economic Affairs (CCEA) is likely to approve disinvestment of Coal India Ltd Wednesday which may fetch the exchequer Rs 22,000 crore.