Page 5 - Public Sector Undertakings Psus

Valuation multiples of top public sector undertakings at a multi-year low

The valuation differential has widened in the past five years

From TCIL to RCIL, Cabinet okays listing of seven PSUs on stock exchanges

TCIL, RCIL, NSC, THDCL, WAPCOS and FAGM will be taken public through the initial public offering, while KIOC will be made public through the follow-on public offer (FPO) route

Equity mop up by PSUs at record this fiscal at Rs 535 bn through IPOs, QIPs

Public sector undertakings (PSUs) have mopped up about Rs 535 billion by way of initial public offerings (IPOs) and qualified institutional placements (QIPs) this financial year, a record high. The amount raised is more than the combined amount garnered in the previous 10 financial years. Seven companies tapped the market for an IPO to garner about Rs 300 billion. The sustained uptick in the secondary market combined with sizeable domestic flows and help from Life Insurance Corporation (LIC) has aided PSU share sales, said experts. The largest offering this fiscal was that of re-insurer General Insurance Corporation of India (GIC Re), which has garnered Rs 112.56 billion. GIC Re is followed by New India Assurance (Rs 95.85 billion) and Hindustan Aeronautics (Rs 41.44 billion).Of the four PSUs that got listed this fiscal, Hudco and Cochin Shipyard are trading in the green with gains of 11 per cent and 16.6 per cent, respectively. GIC and NIA, on the other hand, have shed 22.6 per cent .

No undue insistence by govt on dividend payout by PSUs: Geete

Central public sector enterprises may only finalise their full dividend payouts for the current fiscal in September next year

Govt asks PSUs to step up capex, dividends

Borrowing programme remains unchanged for now, but to be reviewed in December