Page 7 - Disinvestment

Top Headlines: Omicron 3x more transmissible; Rs 2 trn worth IPOs next year

Business Standard brings you the top headlines at this hour.

Disinvestment's tough climate call: The hurdle in govt's fund-raising path

A raft of energy and mineral CPSEs currently lined up for sale may find it difficult to attract buyers because they lack viable environment-related agendas

Govt refutes speculation over LIC IPO's delay, says it is 'on course'

The government on Sunday refuted media speculation around the IPO of LIC and said that it is unlikely to come up with the IPO of LIC in the current financial year ending March 2022

Privatisation: Changing tracks aided Air India, derailed BPCL sale

Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas. This was made possible only after the government changed the track from selling 76 per cent of its stake in the national carrier to putting on block its entire 100 per cent holding as well as giving bidders an option of deciding how much debt they were willing to take over. But in the case of BPCL, the government ignored suggestions of following its time-tested policy of putting on block 26 per cent stake along with management control, just like it had done in the case of Hindustan Zinc and Balco. Instead, it offered its entire 52.98 per cent in the company operating in a sunset sector. The result - just three bids came in, and two of them struggled

Top headlines: Govt says farm reforms will continue, fraud apps gain users

The Centre's push to phase out kerosene is a work in progress, a decade after the move towards rationalising the allocation of the fuel to states. Read more in today's top headlines

Disinvestment of some PSUs a continuous process, says govt in RS

Replying to supplementaries during the Question Hour, Railways Minister Ashwini Vaishnaw said the process of CONCOR disinvestment started during the Congress regime in 1994-95

Supreme Court orders CBI probe into Centre's HZL disinvestment in 2002

The court did not stall the proposed disinvestment of the government's 29.54 per cent residual stake in the open market

Govt invites bids from asset valuers for strategic sale of FSNL

The finance ministry on Thursday invited bids from asset valuers to assist the government in the strategic sale of Ferro Scrap Nigam Ltd (FSNL).

Govt unlikely to meet disinvestment target: Finance Secretary TV Somanathan

'I don't expect a huge uptick in inflation. I think it will remain within the 4 to 5 per cent band', said Somanathan

Top Headlines: Centre cuts excise on fuel, govt to miss disinvestment goals

Business Standard brings the top headlines at this hour

BPCL disinvestment delayed as suitors strive for partners: Report

The massive price tag means bidders as well as the Indian government want a consortium with stronger technical and financial muscle for the transaction, the people said.

BPCL privatisation likely to face a bump on rising fuel prices in India

A major chunk of the auto fuel price in the country consists of state and central taxes

Air India's disinvestment likely to complete within the next 10 weeks: Govt

Bansal, who also holds the charge of Chairman and Managing Director of Air India, in an order said airline's disinvestment process is in its final stages and letter to intent has been already issued

Divestment push may boost PSU m-cap on bourses from all-time low currently

Nifty PSE index closes at highest level since January 2018

AI sale: PSUs set for rerating, divestment agenda gets a push, say analysts

Besides Air India and BPCL, SCI, CONCOR, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam are some of the other public sector companies that are likely to see government cut its stake

Govt quashes report of Tata Group emerging as winning bidder for Air India

The clarification came in the wake of Bloomberg reporting Tata Sons has been selected as the winning bidder for the debt-laden state-run airline

Govt seeks to empanel merchant bankers, legal advisors for share sales

Appointment will be for two years, extendable for one year; contenders can quote a fee as low as Re 1, must submit bids by October 20

A one-horse race

'So as the privatisation of Air India goes into the final lap, I can confirm it is only a one-horse race', says the author

Govt intends to complete BPCL disinvestment by March-end: Company chairman

Acquirer will have to make open offers to minority shareholders of Petronet LNG and IGL for 26% shares, costing new owner of BPCL another Rs 19,000 cr

Disinvestment to increase PSUs' income, create jobs: MoS Finance Karad

The government plans to increase public sector undertakings' (PSUs) income and create employment through the disinvestment process, Minister of State for Finance Bhagwat K Karad said on Friday. He said public sector companies provide employment to 14 lakh people in the country. "Disinvestment doesn't mean that the companies are making losses, but the government has different plans to increase their income and to increase jobs," he said while addressing a virtual event organised by Dun & Bradstreet India. He said the government has decided to garner around Rs 6 lakh crore by way of monetisation. Last month, Finance Minister Nirmala Sitharaman had announced a Rs 6-lakh crore National Monetisation Pipeline (NMP) to unlock value in infrastructure assets across sectors ranging from power to road and railways. The plan, designed by the NITI Aayog, intends to sell off/lease public sector assets worth Rs 6 lakh crore to private companies in four financial years between 2021-22 and ...