Govt made Rs 31,106 cr in FY23 through disinvestment, reports DIPAM

The sale of 3.5 per cent of its stake in the LIC through an IPO brought the govt Rs 20,516.12 crore as receipts

The government has garnered Rs 31,106.64 crore from disinvestments in the financial year 2022-23 (FY23) so far, official data showed. According to data released by the Department of Investment and Public Asset Management (DIPAM), disinvestment proceedings have added Rs 31,106.64 crore to government coffers in FY23 so far.

LIC made the largest contribution to these proceeds. The sale of 3.5 per cent of its stake in the LIC through an initial public offering (IPO) brought the government Rs 20,516.12 crore as receipts.

The disinvestment included stake sales in central public sector enterprises (CPSEs), involving Oil and Natural Gas Corporation (ONGC), Life Insurance Corporation, Pradeep Phosphates Limited (PPL), Gas Authority of India Limited (GAIL), Neelachal Ispat Nigam Limited (NINL), and Indian Railway Catering and Tourism Corporation (IRCTC).

The disinvestment also included the sale of shares of Axis Bank held by Specified Undertaking of the Unit Trust of India (SUUTI). This brought the Centre Rs 3839 crore in proceeds. 

The ONGC divestment involved the sale of 1.5 per cent of the centre's stake in the enterprise. The sale fetched the government Rs 3026.23 crore. The disinvestment was undertaken through Offer For Sale (OFS). Currently, the centre holds a 58.91 per cent stake in ONGC.

The IRCTC sale through OFS brought the exchequer Rs 2723.23 crore.

Notably, the government sold all its 19.55 per cent ownership in PPL. The sale brought the centre Rs 471.5 crore.