As many as 50 state-run companies may be listed shortly as the government has put out rules and guidelines for biggest-ever plan to invite public participation in its profit-making enterprises. It will also bring down shareholding in already listed firms to 75%.
On Friday, the department of investment and public asset management (DIPAM) issued the mechanism for listing of state run firms, announcing the details of the decision announced in the budget.
"The government will put in place a revised mechanism and procedure to ensure time-bound listing of identified CPSEs on stock exchanges," finance minister Arun Jaitley had said. The government will look to list all its companies that have a positive net worth, no accumulated losses and have earned net profit in three preceding consecutive years.
50 Central PSUs to be listed
By IndianMandarins - 2017-02-18 10:52:32
As many as 50 state-run companies may be listed shortly as the government has put out rules and guidelines for biggest-ever plan to invite public participation in its profit-making enterprises. It will also bring down shareholding in already listed firms to 75%.
On Friday, the department of investment and public asset management (DIPAM) issued the mechanism for listing of state run firms, announcing the details of the decision announced in the budget.
"The government will put in place a revised mechanism and procedure to ensure time-bound listing of identified CPSEs on stock exchanges," finance minister Arun Jaitley had said. The government will look to list all its companies that have a positive net worth, no accumulated losses and have earned net profit in three preceding consecutive years.
