Page 2 - Dipam

Government CPSE dividend collection hits record high of Rs 61,149 crore

Dipam recorded total receipts of Rs 75,886 crore for both disinvestment proceeds and dividend collections

No plans to sell SUUTI stake in FMCG player ITC, says Dipam Secretary

The government has no plans to sell its part stake in ITC, held through SUUTI, amid BAT paring its stake through a block deal in the Kolkata-based FMCG player, a top official said on Wednesday. As on December 31, 2023, Specified Undertaking of Unit Trust of India (SUUTI) held around 7.82 per cent stake in the diversified conglomerate ITC. "There is no such plan at the moment," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI. SUUTI last pared a stake in ITC in February 2017, when two per cent equity was sold at a price of Rs 291.95 per share via block deal. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window. British multinational BAT Plc on Tuesday said it plans to sell up to 3.5 per cent stake in India's ITC Ltd to institutional investors through a block trade. Following this, the shareholding of BAT will come down to 25.5

Govt is mulling listing of PSEs' green energy arms, says Dipam secretary

There is a lot of opportunity for subsidiary units of some of our important companies to come to the market, said Pandey

Moving away from a disinvestment target: Dipam secy Tuhin Kanta Pandey

He said that of the Rs 30,000 crore miscellaneous receipt for FY24, the Centre expects to get about Rs 12,000 crore from asset monetisation and Rs 18,000 crore from disinvestment

Govt to complete IDBI Bank strategic sale in FY25: Dipam Secy Pandey

The government expects to complete the strategic sale of IDBI Bank in the next financial year, a senior official said. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited. Asked if the strategic sale would be completed in the next fiscal, Pandey said "Yes, of course". The government along with LIC is selling nearly 61 per cent stake in IDBI Bank and had in October 2022, invited bids from buyers. In January 2023, DIPAM said it had received multiple Expressions of Interest (EoI) for buying a stake in IDBI Bank. The bidders who have shown interest through EoI have to get two sets of clearances -- one from the home ministry for security clearance and the other from the Reserve Bank of India (RBI) for meeting the 'fit and proper' criteria.

Interim Budget: Disinvestment, monetisation target set at Rs 50,000 crore

Current goal pared down to Rs 30,000 cr

Ramp-up, asset monetisation to help turn around fortunes of RINL

Rs 3,000-4,000 crore expected from sales

IDBI Bank has deferred tax assets of Rs 11,520 cr, 120 properties: Govt

The government has informed the prospective asset valuers of IDBI Bank that the lender has deferred tax assets of Rs 11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. In response to the pre-bid queries from prospective asset valuers of IDBI Bank, the Department of Investment and Public Asset Management (DIPAM) said the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad. The intangible on the balance sheet of IDBI Bank primarily comprises deferred tax assets of around Rs 11,520 crore, DIPAM said. Deferred tax asset commonly refers to overpayment of tax by an entity. Such excess tax paid can be adjusted against future tax dues. DIPAM further said the asset valuer shall further identify intangibles not on the IDBI Bank balance sheet like brand name, branch network and value them. The Terms of Reference for asset valuer

Govt gets over Rs 3,400 cr dividend from NIIF, ECGC: DIPAM Secretary

The government has received over Rs 3,400 crore as dividend tranches from NIIF and ECGC. The government has already mopped up Rs 5,200 crore as dividend from public sector companies so far in the current fiscal. "Government has respectively received about Rs 3,031 crore and Rs 434 crore from National Investment and Infrastructure Fund Ltd (NIIFL) and ECGC as dividend tranches," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.

Govt calls off strategic disinvestment of Pawan Hans, says DIPAM

The government had decided to sell 51% stake in Pawan Hans to Star9 Mobility Private Ltd for Rs 211.14 crore in May 2022

Everything you want to know about IDBI Bank

Consultation with the RBI is on to check how many technical bidders are 'fit and proper'. In the next stage, financial bids will be called and IDBI Bank will open up the virtual data room for bidders

Concor disinvestment: Dipam may seek finmin, inter-ministerial group help

Govt seeks to sell stake worth Rs 12,000 cr in national transporter this fiscal as part of disinvestment target

Govt may file draft papers for IREDA public offering by Sept: DIPAM Secy

The government is planning to file draft papers for an initial public offering of state-owned Indian Renewable Energy Development Agency (IREDA) by September, a top official said. "We have appointed the merchant bankers and they will proceed with valuation. We should be able to file the DRHP in 3-4 months, could be by September," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI. A public sector enterprises under Ministry of New and Renewable Energy (MNRE), IREDA is engaged in the financing of renewable energy and energy efficiency projects. Last month, the Cabinet Committee on Economic Affairs (CCEA) approved the listing of IREDA through an initial public offer (IPO) to part sale the government's stake and raise funds for IREDA through the issue of fresh equity shares. Earlier in March 2022, the government infused Rs 1,500 crore capital in IREDA, which is a non-banking finance company (NBFC). The company posted an all-time high net

Govt holds talks with BALCO for withdrawing arbitration, initiating IPO

The government is looking to sell a part of its residual 49 per cent stake in Balco through a public offer and is engaging with the firm's promoter Vedanta to withdraw arbitration and facilitate stock exchanges listing of the company, DIPAM Secretary Tuhin Kanta Pandey said. The Ministry of Mines and the Department of Investment and Public Asset Management (DIPAM) have held 'preliminary talks' with Vedanta Ltd -- the promoters of erstwhile public sector company BALCO, he said. BALCO has to withdraw a 2009 arbitration case it filed against the government over valuation dispute of the residual stake. "We have talked (with BALCO promoters) at preliminary level. We will engage with them in detail. If we have to do public listing, they (Vedanta) will have to withdraw the case. If they agree then we can move forward," Pandey told PTI. The government wants to sell part of its 49 per cent stake in BALCO in the initial public offering (IPO) before eventually exiting the company. A stock ...

Govt panel may draft list of small public sector banks for privatisation

The panel is likely to have officials from the Department of Investment and Public Asset Management, the Reserve Bank of India, and the NITI Aayog

Govt asks BSNL and MTNL to identify low-value assets for monetisation

According to a report, the govt has asked these firms to identify core and non-core assets with a value of up to Rs 10 crore that can be monetised

Govt kickstarts IREDA 's IPO process, scouts for merchant bankers

The government is planning to come out with an initial share sale offer for up to 25 per cent stake in Indian Renewable Energy Development Agency (IREDA) and is looking for merchant bankers to manage the process. The Department of Investment and Public Asset Management (DIPAM) on Monday invited bids from category-I Sebi registered merchant bankers; either singly or as a consortium, with experience and expertise in public offerings in capital market; to act as Book Running Lead Manager (BRLM) and to assist and advise the Government/IREDA in the process. The BRLM would advise the Government/IREDA on the timing and the modalities of the Initial Public Offer (IPO), undertake due diligence, advice on regulatory norms and conduct roadshows to generate investor interest. The government will appoint up to three merchant bankers and the last date to submit bids is April 28. Indian Renewable Energy Development Agency Ltd (IREDA) is under the administrative control of the Ministry of New and

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

IDBI Bank privatisation on track as per strategic sale process: DIPAM

The government on Friday said the disinvestment of IDBI Bank is on track as per the defined strategic sale process. Debunking media reports which indicated a possibility of deferment of IDBI Bank disinvestment, the Department of Investment and Public Asset Management (DIPAM) said the stake sale is in the post-EoI stage. "The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," DIPAM Secretary Tuhin Kanta Pandey tweeted. The government and the LIC are together selling about 61 per cent stake in IDBI Bank and had in January received multiple Expressions of Interest (EoIs) for the same. DIPAM, which manages government holding in state-owned enterprises, in October last year invited EoIs for selling a 30.48 per cent stake in IDBI Bank, along with LIC's 30.24 per cent stake in the bank. The government and LIC together hold a 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic ...

Dipam calls for key meeting on Wednesday to mull Concor divestment

Sources say officials from Railways, Concor, Niti Aayog, finance and law ministries expected to take final call on pending issues regarding transfer of land to private player post disinvestment