The Union government is confident of meeting the Rs 54,000 crore disinvestment target for 2013-14, the government said on September 23. The government has set a target of Rs 40,000 crore for its stake sale in public sector units (PSUs) and Rs 14,000 crore from selling its shares in private companies.
Tag: disinvestment
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Govt to meet Rs 54,000 cr disinvestment target
The Union government is confident of meeting the Rs 54,000 crore disinvestment target for 2013-14, the government said on September 23. The government has set a target of Rs 40,000 crore for its stake sale in public sector units (PSUs) and Rs 14,000 crore from selling its shares in private companies.
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FIIs buy govt stake in state-run firms
The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
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Disinvestment of 10% govt’s equity in IOC okayed
Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy. The disinvestment will be through Offer for Sale (OFS) method in the domestic market according to the SEBI rules and regulations. After this disinvestment, the government shareholding in the company would come down to 68.92 per cent, after deducting the 10 per cent in the present equity capital holding of
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IOC disinvestment
Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy.
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IMG to shortlist bankers to manage stake sale in IOC
The inter-ministerial group (IMG), headed by Disinvestment Secretary Ravi Mathur, would shortlist five merchant bankers for managing the 10 per cent government stake sale in Indian Oil Corporation (IOC). The five merchant bankers would be shortlisted from among 17 banks, who would make presentations to the IMG
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IL&FS to bolster presence in merchant banking segment
According to source-based information, Infrastructure Leasing and Financial Services (IL&FS) plans to strengthen its presence in the merchant banking business to cater to infrastructure companies. A top official of the firm is quoted as saying that the firm wants to increase its presence for doing initial public offers and merchant banking activities. In 2008, the firm divested 73.21 per cent stake in its merchant banking division IL&FS Investsmart to HSBC for arou
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Board of Cochin Shipyard to discuss disinvestment plan
The board of Cochin Shipyard would discuss the proposed disinvestment of government in the company when it meets in June. In a first disinvestment in the sector, the government plans to offload 10 per cent stake in the company. This is part of the Rs 54,000 crore divestment target set by the government for 2013-14. The target is almo
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Minister hopes economy may grow 6%
Finance minister P Chidambaram expressed confidence that the economy will grow at 6 percent in 2013-14. It may be recalled that the Central Statistical Organisation (CSO) expects the economy to expand at 5 percent in 2012-13. The minister said he would ask public sector companies to submit their annual investment plan for the nex
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Govt sticks to its disinvestment drive
The central government, which has so far managed to get over Rs 21,000 crore through selling part of its stake in five state-run firms, expressed commitment to divest stake in some more firms before the end of 2012-13. Now, with just 37 days left for the fiscal year to end, it has come out with a final list. the finance ministry anno