DIPAM

khan-laterally-shifted-to-from-lbsnaa-to-dipam

Khan laterally shifted to from LBSNAA to DIPAM

Mansoor Hasan Khan (IDAS:2002), presently Deputy Director in LBSNAA (Mussoorie), was on Monday laterally shifted to the Department of Investment and Public Asset Management (DIPAM) as Deputy Director for a period ending 18.01.2022 (i.e. a period of seven years under central deputation).   

20 Jan 2020
chasing-timeline:-disinvest-bpcl-before-march-2020

Chasing timeline: Disinvest BPCL before March 2020

In view of the government to generate Rs 1.05 lakh crore liquidity in 2019-20 fiscal, the disinvestment plan of Bharat Petroleum Corporation (BPCL) by the government has led to a problem for those who have been given the task to execute the deal. Though the officials are confident that BPCL has attractiveness to garner proceeds at a healthy premium for the government exchequer, they are less so when it comes to the deal being completed before fixed time schedule that is March 31, 2020 and so it is counted in 2019-20 divestment proceeds.

Union Cabinet cleared the sale of the government’s entire 53.29 per cent stake in BPCL last week. The plan excludes BPCL’s 61.65 per cent stake in the Numaligarh refinery. Government officials and industry experts are confident that the Centre's stake in BPCL can be sold at a premium of 20-30%.

25 Nov 2019
khan-laterally-shifted-to-from-lbsnaa-to-dipam

Khan laterally shifted to from LBSNAA to DIPAM

By IndianMandarins 20 Jan 2020

Mansoor Hasan Khan (IDAS:2002), presently Deputy Director in LBSNAA (Mussoorie), was on Monday laterally shifted to the Department of Investment and Public Asset Management (DIPAM) as Deputy Director for a period ending 18.01.2022 (i.e. a period of seven years under central deputation).   

chasing-timeline:-disinvest-bpcl-before-march-2020

Chasing timeline: Disinvest BPCL before March 2020

By IndianMandarins 25 Nov 2019

In view of the government to generate Rs 1.05 lakh crore liquidity in 2019-20 fiscal, the disinvestment plan of Bharat Petroleum Corporation (BPCL) by the government has led to a problem for those who have been given the task to execute the deal. Though the officials are confident that BPCL has attractiveness to garner proceeds at a healthy premium for the government exchequer, they are less so when it comes to the deal being completed before fixed time schedule that is March 31, 2020 and so it is counted in 2019-20 divestment proceeds.

Union Cabinet cleared the sale of the government’s entire 53.29 per cent stake in BPCL last week. The plan excludes BPCL’s 61.65 per cent stake in the Numaligarh refinery. Government officials and industry experts are confident that the Centre's stake in BPCL can be sold at a premium of 20-30%.

dipam:-dr-jaya-appointed-as-deputy-secretary

DIPAM: Dr Jaya appointed as Deputy Secretary

By IndianMandarins 12 Nov 2019

Dr Jaya Priyadarshini Yarikipati (IES:2008) was on Monday appointed as Deputy Secretary in the Department of Investment & Public Asset Management (DIPAM) for a period of four years. 

secretary,-dipam:-khachi’s-repatriation-adds-a-spin

Secretary, DIPAM: Khachi’s repatriation adds a spin

By IndianMandarins 24 Oct 2019

Hardly had DIPAM (Disinvestment) Secretary Anil Khachi (IAS:1986:HP) completed 90 days at the Centre when the NaMo administration, on Tuesday, announced his premature repatriation to cadre state of Himachal Pradesh leaving many of his peers clueless about the reasons behind the decision.

Indianmandarins has reliably learnt that Kachi’s abrupt premature repatriation has added a spin to the appointment of the next Chief Secretary of the state. The outgoing CS Shrikant Baldi (IAS:1985:HP) is retiring in December this year.

It remains to be seen whether Sanjeev Gupta (IAS: 1985: HP) presently secretary, Inter State Council Secretariat will also prefer to return to his cadre and stake his claim for the coveted job. Several insiders appear to have assumed that Jai Ram Thakur-led BJP Govt in Himachal has all along ignored officers on central deputation while considering appointments to the post of Chief Secretary.

cpses:-finmin-to-reset-the-timetable-for-divestment

CPSEs: FinMin to reset the timetable for divestment

By IndianMandarins 11 May 2019

Union Finance Ministry is at it again. The North-Block higher ups are reported to have gone to the drawing-board to rework the strategic sale mechanism for quite a few centrally controlled Public Sector Enterprises.

 

The idea is to augment resources and add a whopping Rs 90,000 crores to the State exchequer by off loading select CPSEs in the current fiscal year. This is about Rs 5,000 crores more than what the Government could gain through disinvestment during the last fiscal.

 

The step is meant to ensure straightaway sale of CPSEs in four months or so from the date of issuing intent with papers to likely investors. Officials believe that the Government move will speed up the process of disinvestment.

 

For loss making giants like Air India another two months are likely to be given so that the sale process is complete in six months from the date of issuing Preliminary Information Memorandum, or PIM, regarding the company.

 

As of now there is no fixed deadline for concluding such sales of state-owned companies and the process is viewed as slow, tardy and cumbersome. Ministry officials call the new steps as streamlining where the fate of the Government-owned company could be decided either way in four months time.

 

The Department of Investment and Public Asset Management wants to focus on outright sale of select CPSEs since this has been pending for long. The department has identified 35 units with the help of NITI Aayog for sale. These include both profit and loss-making enterprises.

 

Air India tops among the companies shortlisted for strategic sale and so is its subsidiary AIATSL. Others include BEML, Scooters India, Bharat Pumps Compressors, and Bhadrawati, Salem and Durgapur units belonging to SAIL.

 

The Aayog has also given its nod for dispensing with Hindustan Fluorocarbon, Hindustan Newsprint, HLL Life Care, Central Electronics, Bridge & Roof India, Nagarnar Steel plant of NMDC, units of Cement Corporation of India and ITDC.

 

The disinvestment of several State units has been lingering despite the process for this often commenced over a year ago from now. DIPAM had issued PIMs for sale of Pawan Hans, Bharat Pumps & Compressors Ltd, Hindustan Fluorocarbons Ltd in April 2018, while cases like Scooters India, Hindustan Newsprint are pending since March last year.

stake-sale-of-pawan-hans-and-air-india-on

Stake sale of Pawan Hans and Air India on

By IndianMandarins 05 Dec 2018

Department of Investment and Public Asset Management (DIPAM) secretary Atanu Chakraborty revealed recently that the government has received “substantial” interest for Pawan Hans stake sale and plans for Air India disinvestment.

 

The government owns 51% in Pawan Hans, which has a fleet of 46 choppers. The remaining 49% is with state-run ONGC. If the sale goes through, the government will exit the chopper-maker. The disinvestment process is on, as ONGC refused to buy out the government’s stake when it was proposed last year.

 

 

SBI Capital is advising the government on the bidding process. In April, the government had issued the information memorandum for the 51% strategic stake sale in Pawan Hans and had sought expressions of interest (EoI) from interested bidders by 18 June.

 

Further, Chakraborty denied that Air India’s disinvestment plans were put on the back burner saying the process is a continuing exercise.

 

“As a part of that, an expression of interest has been invited for Air India Air Transport Services (AIATSL). And, certain other assets of Air India are in the process of being sold,” he added.

 

AIATSL is the profit-making ground handling arm of the national carrier. In 2016-17, AIATSL raked in a profit of Rs61.66 crore.

The government had in June 2017 unsuccessfully tried to offload 76% stake in the national carrier. As part of the disinvestment, the government was planning to transfer most of the debt to a special purpose vehicle.

 

He said the government will continue to use exchange-traded funds (ETF) as one of its preferred modes for disinvestment. On the ongoing CPSE ETF, he said, against the Rs8,000 crore offering, a subscription of Rs30,000 crore has been received, but the government will retain only Rs17,000 crore.

 

He said the retail portion was fully subscribed, and there was a big interest shown by FPIs who offered almost Rs13,000 crore, both in the anchor and non-anchor categories. He said the work on debt ETF is also on progress.

govt-begins-process-to-sell-stakes-in-nbcc,-hudco

Govt begins process to sell stakes in NBCC, HUDCO

By IndianMandarins 23 Aug 2018

In order to dilute stakes through Offer for Sale (OFS) route the government, on 22 August 2018, initiated the process to sell stakes in HUDCO, NBCC in addition to an IPO of state—owned power company NEEPCO. In addition to fetch revenue it will help comply with SEBI’s mandatory norm for PSUs to ensure a minimum public shareholding of 25 per cent.

As per the proposal additional 10 per cent stake would be sold each in HUDCO & NBCC. The Govt currently holds a 73.73 per cent stake in NBCC and 89.80 per cent in HUDCO whereas NEEPCO is 100 per cent state-owned company. Reportedly, 25 per cent divestment in NEEPCO is proposed through the IPO route. NBCC and HUDCO are expected to fetch the govt Rs 1300 & Rs 1100 Crs respectively. For three issues the Dept of Investment and Public Asset Management (DIPAM) has invited bids from various merchant bankers.

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.