Reports indicate that Odisha government plans to tighten the exit clause for the promoters of non-major ports in the state. According to the revised norms, that is considered by the state government, original promoters of a non-major port must retain at least 51 per cent stake for three years from the date of commencement of com
Tag: equity
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Dart Energy to acquire stake in ONGC block
Brisbane-based Dart Energy may pick up 10 to 25 percent stake of Oil and Natural Gas Corp (ONGC) in the latter's four coal-bed methane (CBM) blocks. CBM is natural gas trapped within coal formations, which is extracted by drilling holes into the seams. In order to fast-track gas production with the help of priva
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Govt delays disinvestment in IFCI
According to source-based information, government postponed the proposed disinvestment in development finance institution IFCI until such time its financial position is strengthened. The government took this move as it feels that in the present situation, it may not be able to fetch the correct price for its stake if it goes for
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Govt delays disinvestment in IFCI
According to source-based information, government postponed the proposed disinvestment in development finance institution IFCI until such time its financial position is strengthened. The government took this move as it feels that in the present situation, it may not be able to fetch the correct price for its stake if it goes for
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ONGC offloads stake in coal bed methane blocks
State-run energy explorer Oil and Natural Gas Corporation (ONGC) offloaded stake in four of its coal bed methane (CBM) gas blocks to foreign and domestic firms through a recently held auction. The blocks in which the company wanted to divest stakes are Jharia and Bokaro blocks in Jharkhand and North Karanpura and South Karanpura assets in Raniganj, West
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Esssar Energy Holdings to exercise call option
In a move to consolidate non-public holdings of Essar Oil, Essar Energy Holdings, Mauritius exercised the call option to buy 32.95 million shares or 2.41 percent stake in the former from UK's Imperial Consultants and Securities. It may be recalled that on April 6, 2010, Essar Energy entered into an agreement with Essar Investment for the call option. Later, Essar Investment demerged its inves
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TCG asserts right over shares of state govt in HPL
West Bengal government's plan to offload its 39.99 per cent stake in Haldia Petrochemical (HPL) suffered setback with the group companies of The Chatterjee Group (TCG), claiming part of the stake sale. TCG, holds stake in HPL through its group firms Chatterjee Petrochem (Maurtius) Company and Chatterjee Petrochem (India
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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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Cabinet may consider road ministry proposal
Media reports indicate that the union cabinet may consider the proposal of the road ministry to allow road developers to sell their 100 percent stake in already awarded projects in favour of more capable firms. The highway ministry proposed this idea as many highway developers are unable to begin work on their project because of financial and
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Cabinet may consider road ministry proposal
Media reports indicate that the union cabinet may consider the proposal of the road ministry to allow road developers to sell their 100 percent stake in already awarded projects in favour of more capable firms. The highway ministry proposed this idea as many highway developers are unable to begin work on their project because of financial and