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| No of listed PSUs to triple after disinvestment plan |
| Press Trust of India / Mumbai Nov 05, 2009, 21:20 IST |
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The number of listed PSUs in the country is likely to triple in the months to come with the government today announcing a bold disinvestment plan that seeks to list all profitable public sector enterprises.
At present there are around 55 listed public sector entities, and with today's announcement, the number could go up to over to 150, as nearly 100 others, including BSNL, qualify for the listing.
Meanwhile, the market cap of the 150 listed companies would represent a huge chunk of the total market cap of all the firms listed on the Bombay Stock Exchange (BSE).
At the end of today's trade the m-cap of the companies in the BSE PSU index stood at Rs 15.76 lakh crore, accounting for one-third of the total m-cap of BSE, which stood at around Rs 54 lakh crore.
The major surge in the m-cap tally would be from telecom major BSNL, an unlisted entity, whose valuation has been pegged at about $100 billion and a paid-up capital of about Rs 5,000 crore.
According to the CCEA's decision, unlisted firms with three-year track record of net profit and positive networth will have to come out with initial public offerings.
In its second term, the Congress-led government has already paved the way for listing of two PSUs - NHPC and Oil India, and today's decision would result in more CPSEs hitting the capital market.
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