As many as eight public sector companies including Hindustan Aeronautics Ltd (HAL) and RITES Ltd will hit the capital market next financial year.
Department of Investment and Public Asset Management Secretary Neeraj Gupta said initial public offerings of the eight PSUs will be done in a "staggered manner" depending upon the size of the issuance.
Of these, HAL has already secured the approval of Securities and Exchange Board of India for floating an IPO. It plans to divest 10 percent stake.
The government plans to sell 12 percent stake in RITES to raise an estimated Rs 600 crore.
It will sell 13.90 crore shares in IREDA, while 12 percent and 25 percent would be sold in defense PSUs Bharat Dynamics and MIDHANI respectively.
In 2018-19 fiscal, the government has budgeted to raise Rs 80,000 crore through PSU disinvestment, which includes a strategic sale.
In the current financial year ending March, the government has already raised over Rs 23,600 crore by way of IPOs in four companies.
As much as Rs 11,372 crore has been raised from General Insurance Corporation of India Ltd., Rs 9,600 crore from The New India Assurance Co Ltd., Rs 1,442 crore from Cochin Shipyard Ltd. and Rs 1,200 crore from Housing & Urban Development Corporation Ltd. (Hudco).
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IPOs of 08 PSUs to hit market next FY
By IndianMandarins - 2018-02-19 10:45:14
As many as eight public sector companies including Hindustan Aeronautics Ltd (HAL) and RITES Ltd will hit the capital market next financial year.
Department of Investment and Public Asset Management Secretary Neeraj Gupta said initial public offerings of the eight PSUs will be done in a "staggered manner" depending upon the size of the issuance.
Of these, HAL has already secured the approval of Securities and Exchange Board of India for floating an IPO. It plans to divest 10 percent stake.
The government plans to sell 12 percent stake in RITES to raise an estimated Rs 600 crore.
It will sell 13.90 crore shares in IREDA, while 12 percent and 25 percent would be sold in defense PSUs Bharat Dynamics and MIDHANI respectively.
In 2018-19 fiscal, the government has budgeted to raise Rs 80,000 crore through PSU disinvestment, which includes a strategic sale.
In the current financial year ending March, the government has already raised over Rs 23,600 crore by way of IPOs in four companies.
As much as Rs 11,372 crore has been raised from General Insurance Corporation of India Ltd., Rs 9,600 crore from The New India Assurance Co Ltd., Rs 1,442 crore from Cochin Shipyard Ltd. and Rs 1,200 crore from Housing & Urban Development Corporation Ltd. (Hudco).
