Page 4 - Divestment

Govt gets multiple expressions of interest for strategic sale of IMPCL

The government has received multiple expressions of interest for strategic sale of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). "Multiple Expressions of Interest (EoIs) received for the strategic disinvestment of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). The transaction will now move to the second stage," DIPAM Secretary Tuhin Kanta Pandey posted on X (formerly Twitter). The second stage would involve due diligence and subsequent issue of RFPs (request for proposals) for financial bids. The Department of Investment and Public Asset Management (DIPAM) had on August 31 invited EoIs from interested bidders for disinvestment of IMPCL. The last date for putting in preliminary bids was October 30. The government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by Kumaon Mandal Vikas Nigam Ltd (KMVNL), an undertaking of the Uttarakhand government. KMVNL also ..

MMTC at lower circuit, sinks 19% in 2 days on reports govt may wind it down

From its 52-week low of Rs 26.4 touched on April 28 this year, the stock had leaped 237 per cent to a new 52-week high of Rs 89 on October 17, Tuesday

Govt may divest 7% stake in Hudco, Torrent Pharma's promoters get exemption

Sebi has granted open offer exem­ption to the promoters of Torrent Pharma and Torrent Power

Govt to sell up to 7% stake in HUDCO through an offer for sale this week

The plan includes selling 3.5% of the company, with an option to sell an additional 3.5% if the offer is oversubscribed

SJVN slips 10% as government begins partial stake sale via OFS

The government will sell 96.67 million shares, or 2.46 per cent stake, in the company with an option to sell additional 2.46 per cent stake under offer for sale (OFS) route on Thursday and Friday.

Govt to sell up to 4.92% stake in utility company SJVN from Thursday

The sale of the federal government's 4.92% in the state-run hydro power generation firm could earn it about 13.34 billion rupees ($160.81 million)

IRFC slumps 6% as govt eyes 11% stake sale via OFS, stock up 49% in 2023

News agency Reuters reported the government will aim to sell up to 11 per cent stake in IRFC in multiple tranches, but it is yet to decide the exact quantum of sale

RVNL dips 7% as government to offload over 5% stake via OFS starting today

Since April, the share price of RNVL has more-than-doubled from a level of Rs 68.60 and to a record high of Rs 146.65 on Monday, July 24.

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

Jaitley and Sitharaman: A look at divestment under the two NDA FMs

In his early days, PM Modi had said that the government would get out of most sectors, a vision which was given credence through the new policy of 'strategic sectors' announced by Sitharaman in 2020

Kalpataru Projects International promoters divest 6% stake for Rs 468 cr

Promoters of Kalpataru Projects International Ltd (earlier known as Kalpataru Power Transmission) on Tuesday divested 6 per cent of their stake in the firm for Rs 468 crore through open market transactions. Parag Mofatraj Munot (promoter) and two promoter group entities -- Kalpataru Constructions Pvt Ltd and Kalpataru Viniyog LLP -- offloaded 96.34 lakh shares of Kalpataru Projects International Ltd (KPIL). According to the bulk deal data available with the BSE, Munot sold 73.24 lakh shares, Kalpataru Constructions disposed of 10 lakh shares and Kalpataru Viniyog offloaded 13.10 lakh shares, amounting to a 5.9 per cent stake in KPIL. The shares were disposed of in the range of Rs 485.06-485.75 apiece, taking the transaction value to around Rs 468 crore. Post this latest transaction, the combined shareholding of the promoter and promoter group entities has reduced to 41.31 per cent from 47.24 per cent (as per March 2023) equity in KPIL. On Tuesday, shares of KPIL jumped 3.09 per ce

SCI soars 8% on near 3-fold jump in Q4 net

The shipping major reported a 183.9 per cent jump in Q4FY23 net profit to Rs 359.83 crore when compared with Rs 126.74 crore in Q4FY22

'Inability to build commercial aircraft one of India's biggest failings'

Civil Aviation Secretary Rajiv Bansal called India's inability to manufacture commercial aircraft a "huge pain point"

Hindustan Aeronautics tumbles 6% on pricing OFS at discount

The government will be offloading 3.5 per cent stake in HAL through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023.

Shipping Corporation soars 10% on govt's approval to demerger plan

The Ministry of Corporate Affairs has approved the revised demerger plan of Shipping Corporation of India, wherein Rs 1,000 crore will be transferred to the non-core assets

As deadline ends, Centre gets multiple bids for majority stake in IDBI bank

The government, which owns 45.48% of IDBI Bank, is looking to divest a 30.48% stake in the lender

Consolidation of PSBs gives a robust base to scale: Bankers at BFSI Summit

Have better underwriting, risk magt to manage high credit growth

Railway ministry might miss FY23 asset monetisation target by 85%

U-turn on station development major cause behind botched FY23 monetisation

Maersk, JSW and Essar Ports join the race for divestment of Concor

The latest development comes at a time when reports indicate that Maersk is planning to double its warehousing presence in India in the next one year

How is centre faring on its non-tax revenues, divestment targets in FY23

The total non-tax revenue target for the year is Rs 2.69 trillion, while that for disinvestment is Rs 65,000 crore