'Time-bound listing' plan for PSUs fails to take off

A state-owned unit was to list within 165 days after its IPO got approval by govt

The 'time-bound listing' for public sector undertakings (PSUs), announced in this year's Union Budget, isn't being met.

A state-owned unit was to list within 165 days after its Initial Public Offer of equity (IPO) got approval by its parent ministry or department and by the department of investment and public asset management (Dipam).

The idea was to help the Centre with its ambitious disinvestment target of over Rs 70,000 crore for the current financial year. However, PSUs have repeatedly missed the schedule set under the guidelines, which had deadlines for each task in the IPO process. Examples are General Insurance Corporation (GIC