Page 4 - Disinvestment

FinMin to empanel bankers, law firms for OFS disinvestment, dribbling

The Finance Ministry has invited bids for the empanelment of merchant bankers and legal advisors for assisting the government in CPSE disinvestment transactions undertaken through OFS and stock market dribbling. The bids have been invited in four categories -- A++, A+, A and B, based on the size of the transaction. To be eligible for empanelment in the A++ category, which is an OFS transaction size of more than Rs 2,000 crore, interested merchant bankers would be required to have completed at least one equity market transaction of the size of Rs 2,000 crore. For empanelment for managing OFS transaction size of Rs 750 crore to Rs 2,000 crore (A+), and less than Rs 750 crore (A), the interested merchant banker would be required to have managed at least one capital market transaction of Rs 750 crore and Rs 500 crore respectively between April 2020 and till now. In the fourth category, which is B, interested merchant bankers would be involved in the sale of CPSE shares on the stock ...

Govt to sell 8% stake in IRCON International through offer-for-sale

The plan is to offload 37.6 million equity shares, of face value of Rs 2 each-representing 4 per cent of the company for non-retail investors on Thursday

Adani Group to take call on Wilmar JV stake divestment in three months

"We are currently studying whether to keep or divest Wilmar stake," group CFO said

Fairbridge Capital to sell up to 8.5% stake in Thomas Cook India via OFS

The promoter will sell an additional 0.8 million shares, representing a 1.7 per cent stake, in case of oversubscription of the offer

IDBI Bank stake sale may not be completed by March 2024: Govt official

The stake sale in IDBI Bank may not be completed by March 2024, a senior government official said on Thursday. Department of Investment and Public Asset Monetisation (DIPAM) Secretary Tuhin Kanta Pandey said the transaction is "on course" but there are aspects like the RBI's fit and proper criteria which need to be complied with. "We practically don't think that before March, we can conclude it (IDBI Bank stake sale)," Pandey told reporters on the sidelines of an event organised by industry grouping Ficci here. He was answering a question on whether the department will be able to achieve the target of raising Rs 51,000 crore from disinvestments this fiscal. The government, which owns over 45 per cent stake in IDBI Bank, and life insurance behemoth LIC, which has a 49.24 per cent shareholding, have jointly decided to sell 60.7 per cent stake in the lender. Pandey said that achievement of the divestment target is contingent upon important transactions like the one involving sale of

Centre may moderate FY25 disinvestment target amid limited asset sales

The FY24 Budget Estimate of Rs 51,000 cr expected to be halved

Flight of disinvestment: Centre's PSU stake sale programme remains elusive

Air India flew and LIC moved, but a big-bang PSU stake sale programme has proved to be elusive so far

Govt invites Expression of Interest from bidders for IMPCL strategic sale

The turnover of the company rose by 59 per cent to Rs 261 crore in FY22. Its profit after tax stood at Rs 34 crore for 2021-22

A rising tide

Govt should revive disinvestment

Govt calls off strategic disinvestment of Pawan Hans, scraps firm's bid

Majority owner in consortium that won stake sale for state-owned helicopter operator faces legal trouble

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

Strategic disinvestment push: Buyers of PSU shares exempt from gift tax

The relaxation will stay as long as the strategic investor retains at least 51 per cent in the PSU after the takeover

Centre may meet disinvestment target of Rs 51,000 crore for FY24

IDBI Bank, Concor key for realisation, otherwise it may have to resort to offer for sale

Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist

Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31

Centre unlikely to undertake any new PSU disinvestment in 2023-24

Disinvestment could resume after 2024 general elections

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

Govt may close FY23 with Rs 50,000 cr shortfall in direct tax mop up

Deficit in overall indirect tax receipts likely due to contraction in customs and excise collections

Govt exceeds FY23 RE target of combined disinvestment, dividend mop up

The government has exceeded the revised estimates of collection from disinvestment and dividend combined in the current fiscal at Rs 94,282 crore. The revised estimates (RE) had pegged receipts from disinvestment and dividend at Rs 93,000 crore. In 2022-23, dividend receipts stood at Rs 58,988.34 crore and disinvestment receipts at Rs 35,293.52 crore. Together, the government has realised Rs 94,281.86 crore as disinvestment and dividend proceeds from CPSEs as on March 31, 2023. The Revised Estimate for disinvestment and dividend proceeds FY2022-23 is Rs 93,000 crore, which includes disinvestment mop up at Rs 50,000 crore and dividend of Rs 43,000 crore.

HAL disinvestment: Offer for sale subscribed two-fold after slow start

Share sale firms up state-owned defence firm's chances of MSCI India inclusion

AIESL divestment to augur well for civil aviation industry: Govt official

The disinvestment of Air India Engineering Services Ltd (AIESL), which is hopefully expected to go through in the next couple of months, will augur well for the country's civil aviation industry, a top government official said on Tuesday. Civil Aviation Secretary Rajiv Bansal also said the company has a healthy "topline and bottomline". Air India along with Air India Express was acquired by Tata Group in January last year through a disinvestment process. AIESL, a major player in the maintenance, repair and overhaul (MRO) segment, is among the four subsidiaries of erstwhile government-owned Air India and is now under Air India Assets Holding Ltd (AIAHL). "We are in the process of divesting AIESL... Once this disinvestment goes through, hopefully in a couple of months from now, it will also augur well for the Indian civil aviation industry," Bansal said and expressed hope that there will be a good number of interested parties for the company. Expression of Interest (EoI) is expected