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Govt needs to sell stake of over Rs 250 billion as deadline draws near

Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule

Govt need to sell stake of over Rs 250 billion as deadline draws near


Sachin P MampattaSameer Mulgaonkar Mumbai
The government will be required to sell stake worth over Rs 269.8 billion in less than two months in order to meet a regulatory deadline for minimum public shareholding.
The Securities and Exchange Board of India (Sebi) had granted an extension last year for listed public sector companies to meet the 25 per cent public shareholding rule. The deadline expires on August 21.
An examination of current shareholding shows that the Centre will have to sell Rs 181.4 billion in companies, excluding public sector banks (PSBs). Embattled PSBs, whose government stake increases on account of capital infusion, would

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First Published: Jun 27 2018 | 6:53 AM IST

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