Page 15 - Disinvestment

20 CPSEs, their units in pipeline for strategic sale: Finance Ministry

As many as 20 CPSEs and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday. In a written reply to a question in the Lok Sabha, Singh said the government follows a policy of disinvestment through strategic stake sale and minority stake dilution. "Based on the criteria laid down by NITI Aayog, the Government has 'in principle' approved strategic disinvestment in 34 cases since 2016, out of which strategic disinvestment in 8 cases has been completed, 6 CPSEs are under consideration for closure and litigation, and remaining 20 transactions are at various stages," Singh said. The CPSEs which are under consideration for closure/ under litigation are Hindustan Fluorocarbon Ltd (HFL), Scooters India, Bharat Pumps & Compressors Ltd, Hindustan Prefab, Hindustan Newsprint, and Karnataka Antibiotics & Pharmaceuticals Ltd. The transactions which ...

Retail portion of Bharat Dynamics' offer for sale subscribed 40%

Meanwhile, shares of Bharat Dynamics fell 5 per cent on Wednesday, extending their two-day fall to 18 per cent

Centre launches FY21 disinvestment drive with HAL, OFS oversubscribed

Experts said the government has timed the HAL share sale well. The stock has more than doubled from its March lows amid strong buying momentum in defence stocks.

60% of Bharat Petroleum staff eligible for voluntary retirement scheme

Firm offers VRS ahead of privatisation

As revenue dips in Covid times, govt sets ball rolling for BPCL sale

The biggest deals are expected to the initial public offering of LIC and the BPCL deal. Other planned privatisation candidates include Air India, Concor, and Shipping Corp

Finance Ministry invites bids from transaction advisors for LIC IPO

The advisors can submit their bids beginning Friday, till July 13, 2020. The bids would be opened by DIPAM on July 14

Govt extends Bharat Petroleum privatisation bid deadline to July 31

Any private company having a net worth of $ 10 billion is eligible for bidding and consortium of not more than four firms will be allowed to bid

Statsguru: Value erosion in PSUs can limit govt's disinvestment target

All sectors will be opened up for private firms and PSUs will be privatised in non-strategic sectors

Uncertainty looms over Rs 2.1-trn divestment target amid coronavirus spread

In its April Monetary Policy report last week, the Reserve Bank of India said the global economy is expected to go into recession after taking into account the impact of the Covid-19 pandemic

Covid-19 impact: Missing disinvestment targets will have consequences

Any slippage in disinvestment numbers combined with other revenue shortfall would mean the govt would have to borrow more in the market

FY20 disinvestment mop-up at Rs 50,298 cr, govt misses budget target

In the Budget 2019-20, disinvestment revenue was pegged at Rs 1.05 trillion. However, in the RE, the projection was lowered substantially to Rs 65,000 crore

Government ends FY20 divestment programme with Rs 14,700-cr shortfall

The planned IPO of Indian Railway Finance Corporation (IRFC) and an Rs 8,000-crore sale of the Centre's stake in ITC and Axis Bank through SUUTI, have now been put on hold

NSE may get more breathing space for disinvesting 37% stake in CAMS

Last month, Sebi had directed the bourse to divest its entire stake in the registrar and transfer agent (RTA) within a year

Top 10 business headlines: Govt likely to miss disinvestment target

From coronavirus disruption on various sectors of Indian economy to adjusted gross revenue (AGR) woes of telcos, Business Standard brings you the top headlines of the day

Govt's FY20 disinvestment target may fall short by Rs 10,000 crore

The only transactions that are expected to go through by March 31 include the acquisition of THDC and NEEPCO by NTPC, the planned IPO of IRFC, and some buybacks by PSUs, it's learnt

BPCL disinvestment: Next significant capex after new investor steps in

BPCL is in the process of buying land from Hindustan Organic Chemicals to set up the planned facilities

6-7% LIC stake dilution enough to mop up Rs 90,000 cr: CEA Subramanian

As per Budget 2020, out of the Rs 2.1 trillion target, Rs 1.2 trillion is expected to come from IPOs, strategic stake sales, and buybacks

Looking to unlock value in IDBI Bank ahead of IPO, says LIC Chairman

Presenting the Budget, Finance Minister Nirmala Sithraman had said the government would sell a part of its 100 percent holding in LIC through an IPO in the next fiscal year

LIC disinvestment: 100,000 employees stage walk-out across country

There are 13 unions in LIC, and employees and officers affiliated to 11 unions were on protest

Call disinvestment 'recycling' for better optics: Industry executive to FM

"Even my father keeps asking me why government companies are being sold," the executive quipped