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Govt plans to sell up to 25% stake in TCIL via IPO in Jan-March quarter

The government has raised over Rs 150 billion so far this fiscal through PSU disinvestment

Press Trust of India  |  New Delhi 

Representative Image (Photo: Shutterstock)
Representative Image (Photo: Shutterstock)

The is planning an (IPO) to sell up to 25 per cent stake in telecom engineering and consultancy firm in the January-March quarter of the current fiscal, an said.

The ministry is planning to list four (CPSEs) and work on launching the IPO of Ltd (TCIL) has begun, the added.

"We are looking at launching IPO in current fiscal. We will soon approach Cabinet for securing approval for up to 25 per cent stake dilution," the told

TCIL, under the administrative control of the Department of Telecommunications, was set up in 1978. The company had a turnover of Rs 12.05 billion and profit after tax of Rs 708 million in 2016-17 fiscal.

The government has raised over Rs 150 billion so far this fiscal through PSU disinvestment, which includes Rs 17 billion from IPOs of four PSUs -- RITES, IRCON, MIDHANI and

First Published: Sun, November 04 2018. 11:35 IST
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