Page 29 - Stake Sale

Cabinet approves strategic sale of govt stake in BPCL, 4 other CPSEs

Govt's strategic divestment of BPCL will exclude Numaligarh Refinery; management control to be transferred to strategic buyer

UltraTech to sell stake in Bangladesh-based units to HeidelbergCement

UltraTech Cement had a revenue of Rs 35,703.50 crore in 2018-19 financial year

NTPC likely to acquire govt's stake in THDC, Neepco for Rs 8,000 cr

Govt hopes non-tax revenue items, divestment can help it make up for some of tax shortfall in a slowing economy

Promoters cash in on market rally, offload shares to pare debt

In past two-and-a-half months, the promoters of mid-and small-cap companies like Asian Granito, Hatsun Agro Products, Arshiya and GNA Axles via open market, according to the disclosures made by them

For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates

ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 cr

Govt plans stake sales worth $5.4 billion in 7 state-run firms in FY17

Will sell the stakes through the offer-for-sale route, meaning by auction on stock exchanges

Centre's FY17 stake sales were Rs 46,247 cr

New Delhi, 31 MarchThe Narendra Modi government divested equity for Rs 46,247 crore in state-owned entities in 2016-17. This is more than the Union Budget's revised estimate for the year of Rs 45,500 crore, though well below the original estimate of Rs 56,500 crore. And, the highest ever from stake sales for any year. The target for 2017-18 is Rs 72,500 crore.Data from the department of investment and public asset management (Dipam) show of the Rs 46,247 crore for the year, nearly Rs 19,000 crore or 41 per cent came from share buybacks by seven public sector units. Namely, National Aluminium, Coal India, NMDC, MOIL, Bharat Electronics (BEL), NHPC and Nevyeli Lignite.While buyback is not stake sale in the accurate sense, it is still divestment; the Centre offloads part of its stake back to the PSu concerned. In July last year, Dipam issued guidelines for state-owned companies that state every PSU with a net worth of at least Rs 2,000 crore and cash and bank balances of Rs 1,000 crore ..

Rs 21,400 cr raised via stake sale, 60% of fiscal target

During 2015-16, govt could manage to meet less than half budget estimates of divestment

Next govt stake sale to see bigger employee participation

Ministry had asked the Sebi to allow participation because it was enthused by the employee subscription demand in IOC and NTPC share sale

Promoters get Rs 5k cr via dilution

Promoters of Infosys, Eicher Motors, Page Industries, Jubilant FoodWorks and Castrol India have sold equity shares worth nearly Rs 5,601 crore in past two-and-half months, data show