FinMin mulls transferring shares of 5 sick CPSE to a fund to meet Sebi norm

The Finance Ministry is planning to transfer shares of five sick CPSEs including HMT and Andrew Yule & Company, to the SNIF fund to meet Sebi's minimum 25 per cent public shareholding.

The Central Public Sector Enterprises (CPSEs) whose shares would be transferred to the Special National Investment Fund (SNIF) are Fertilizers & Chemicals (Travancore) (FACT), Hindustan Photo Films Manufacturing Co., Scooters India, HMT and Andrew Yule & Company, an official said.

The Finance Ministry would be discussing with market regulator Sebi to allow transfer of shares in these companies to SNIF to meet the 25 per cent public holding norm for