Diabytes
Disinvestment News
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The proposed offloading of government stake in IDBI Bank has been delayed several times over the past three years. Currently, Government of India and LIC jointly own 94.71 per cent of IDBI Bank.
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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.
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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.
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Finance Minister Nirmala Sitharaman while unveiling Budget 2021-22 on February 1 had announced that the government proposed to take up the privatisation of two public sector banks (PSBs) and one general insurance company.
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Thr Civil Aviation Minister made these remarks while speaking in Rajya Sabha.
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Union Finance Minister Nirmala Sitharaman on Wednesday said that the Cabinet has approved the sale of stake of the government in five prominent Public Sector Units (PSUs), including Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI), and Container Corp of India.
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As per Public Enterprises Survey 2017-18 that was laid in the Parliament on 27.12.2018, there were 339 Central Public Sector Enterprises (CPSEs) as on 31.03.2018.
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The ministry's proposal, to be placed before Air India Specific Alternative Mechanism (AISAM), will also include option of selling either 100 percent or 76 percent government stake in Air India.
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Swamy has threatened to file a complain if he finds anything wrong with the deal.
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He said the airline would be kept independent after the stake sale.
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The shares of the state-run companies represent 6 core sectors of the economy - finance, industry, energy, utilities, fast moving consumer goods (FMCG) and basic materials.
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This ETF, which is being managed by ICICI Prudential AMC, comprises select companies from the private sector having an exposure to the extent of 39 percent while the rest are public sector firms.
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We won't cross 4 percent inflation. India is defined by low inflation these days, says Arun Jaitley
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The government had planned to sell over 41.22 crore shares, or 5 per cent holding, through the two-day OFS, with an option to retain a similar portion in case of over- subscription.
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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.
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The share sale through an offer for sale (OFS) will happen over two days?beginning tomorrow, an official said here.
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 third tranche of the government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 9,200 crore from investors, which is 3.7 times the amount sought to be raised.
The government is scouting for asset valuers to undertake valuation of two unlisted PSUs -- Projects & Development India Ltd (PDIL), and Hindustan Prefab.
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Finance Minister Arun Jaitley has exuded confidence that receipts from PSU disinvestment will touch Rs 45,000 crore in 2016-17.
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