Privatisation

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Govt's divestment plan to push fundraising activities in FY26: Emkay Global

The government's divestment plan is likely to provide a push to fundraising in FY26 as the recent market correction has slowed down deal-making activity, Emkay Global Financial Services said on Thursday. Addressing a webinar on the state of affairs of the Indian investment banking industry, Yatin Singh, CEO of investment banking at Emkay Global Financial Services, said the public sector is turning out to be material client for investment banks in India with the Department of Investment and Public Asset Management (DIPAM) setting a divestment target of Rs 47,000 crore for FY26. "This is a huge opportunity for investment banks in FY26 and beyond," he said. Over the past three years, the initial public offers (IPOs) of LIC, IREDA, and the offer for sale (OFS) of ONGC, IRCTC, HAL, Coal India, RVNL, NHPC, Hudco, Ircon, and Cochin Shipyard have kept the deal street buzzing within the PSU segment. Looking ahead, the upcoming IPOs of Bharat Coking Coal, Central Mine Planning and Design ...

Economic matters should transcend political divides: Nirmala Sitharaman

BS Manthan: Union Finance Minister Nirmala Sitharaman described the ongoing global turbulence as a "splashing" of forces, urging India to actively participate rather than remain a bystander

Govt seeks merchant bankers for stake sale in PSBs, financial institutions

The Department of Investment and Public Asset Management (DIPAM) on Monday invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions. As per the RFP (request for proposal) floated by DIPAM, the merchant bankers would be empanelled for a period of three years (further extendable by 1 year) and they would advise the government on the timing and the modalities of the transaction for dilution of equity in select PSU banks/select listed public financial institutions. The last day for putting in bids by merchant bankers is March 27. "The Government of India (GOI) intends to empanel BRLMs/MBSBs for a period of three years (further extendable by one year) in the context of dilution of GOI equity in select Public Sector Banks (PSBs), and select listed Public Financial Institutions (PFIs) (as defined under the Companies Act, 2013) using SEBI approved methods in accordance with the extant SEBI/RBI/IRDAI and ..

India critical pillar in our global advisory biz, says Rothschild & Co

Rothschild, which set up its India presence in 1999 with a small team, focused on privatisation and cross-border deals, has expanded to 30 bankers covering all sectors

Refocus again: Despite stated policy and disinvestment has slowed

Expectations that the government would increase the speed of strategic disinvestment or privatisation have been dashed

Govt shifts focus from privatisation to investing billions in ailing PSUs

Political pressure on Modi have increased after he came back to power only with help of regional allies, making it difficult to overcome opposition to privatisation by employee unions fearing job loss

Facing power losses, UP plans to privatise two power distribution firms

UP is inviting private companies to form partnerships with or privatise state-owned Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam, per the tender dated Jan 12

House panel for increased private participation in rail infrastructure

The committee also suggested that the railways should improve its finances by undertaking a comprehensive review of its passenger fares - which are typically subsidised by up to 46 per cent

Pakistan's national carrier stake sale now uncertain after low offer

Pakistan's government has failed to privatize the airline in previous attempts because of protests by labor unions and political parties

'Every Indian owes you a debt': Ratan Tata's letter to former PM goes viral

In a letter, philanthropist and industrialist Ratan Tata conveyed his admiration for former Prime Minister PV Narasimha Rao's "outstanding achievement" in initiating vital economic reforms in India

Delhi polls: Kejriwal attacks BJP, says will campaign for PM Modi if

Former Delhi chief minister Arvind Kejriwal quipped that one engine of the BJP's double-engine government failed after the Lok Sabha elections, while the other is failing during assembly elections

No question of privatising railways, focus on affordable service: Vaishnaw

Union minister Ashwini Vaishnaw on Friday said there is no question of privatising the railways and asserted the national transporter's focus is on providing affordable service to all. The aim is to ensure people can travel up to 1,000 kilometres in comfort in less than Rs 400, the railway minister said here. "In the next five years, the railways will undergo a complete makeover. Trains like Vande Bharat, Namo Bharat, deployment of Kavach train protection mechanism will lead this change. This is the era of transformation of railways," he said while addressing the Railway Protection Force Raising Day event here. "There is no question of privatisation of the railways. I urge those spreading such rumours to remember the railways and defence are two backbones of India and must be spared all kinds of politics. Prime Minister Narendra Modi has ensured the politicisation of the railways has stopped. The focus is on performance, safety, technology and providing affordable service to all," .

SCI divestment process may spill over to FY26 amid 'documentation issues'

Centre struggles to resolve 'documentation issues' with Maharashtra government

The PSU disconnect

Political calculations may have slowed privatisation, but economic policies to improve the public sector's performance brook no delay

Congress slams govt over bid to privatise steel plants, suffocate industry

The Congress on Saturday attacked the government over attempts to privatise steel plants, alleging the country's industrial base is being "suffocated" and Union Steel Minister H D Kumaraswamy is party to it. Congress general secretary in-charge communications Jairam Ramesh cited a written reply in the Rajya Sabha by Kumaraswamy. "Yesterday in the Rajya Sabha, the Minister for Steel revealed that the Modi Government has attempted and failed to privatise 4 steel plants and is currently attempting to privatise another 2," Ramesh said on X. None of these six privatisations were necessary, he argued. "Perhaps the Government's incompetence in enacting its own decisions, however ill-founded, is a small mercy," he said. However, these PSUs are now in a state of inactivity, and will be for an indeterminate period of time, Ramesh said. "The Government will not invest in them - in fact, there is evidence that the Government is actually systematically trying to further throttle these units t

Govt puts privatisation of Container Corporation of India on backburner

The government has put the privatisation of Container Corporation of India Ltd (Concor) on the backburner, an official said. In November 2019, the Union Cabinet approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor -- a Navratna PSU under the Railways Ministry. The government currently holds 54.80 per cent of Concor. "The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said. The official further said that with the government holding in the company at 54.80 per cent, there is little scope for coming out with an offer for sale (OFS) in Concor. Although the Cabinet approval for the Concor sale was accorded in 2019, no worthwhile progress has so far been made, and even an Expression of Interest (EOI) has not been invited for the strategic sale. Shares of Concor closed at Rs 1,043.25 apiece, up 0.35 per cent over the previous close on the BSE.

Union Budget 2024 to signal next steps for IDBI Bank privatisation

IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake

Modi govt departs from privatisation plans, might overhaul state-run firms

The aim is to raise $24 billion in the current April-March fiscal year and re-invest the funds in the companies

Reforms for 'Viksit Bharat' may not fall prey to new coalition government

But, in coalition, the focus may go off specific policies such as labour codes and privatisation