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Showing posts with label disinvestment. Show all posts
Showing posts with label disinvestment. Show all posts
0 comments Posted by life rocks at 6:46 AM

takes of two State owned Navratnas - NMDC and NALCO - are to be further disinvested. The Department of Disinvestment has invited bids from merchant bankers for further divesting the governments.

The Government has decided to disinvest its 10 per cent paid up equity of NMDC through Offer for Sale of shares.

The government currently holds 90 per cent stake in the country's top iron ore producer after it offloaded its 8.38 per cent holding in March 2010.

AIR correspondent reports, the government has proposed to raise 30,000 crore rupees from disinvestment in the current fiscal. However, it has failed to come out with any public offering in first five months of 2012-13.

Last fiscal, due to volatile market conditions, the government had to postpone the sell off process in some Public Sector Undertakings.

It raised only 14,000 crore rupees in 2011-12 against a target of 40,000 crore rupees.

 

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0 comments Posted by life rocks at 8:15 AM

The government could go for the first public offer of its 30 thousand crore rupees disinvestments programme next month. This was stated by Disinvestments Secretary Haleem Khan in New Delhi today. He was replying to a query on when the first issue would come out in the current market conditions. He, however, did not disclose which Public Sector company will go for disinvestment.
Last month, the initial public offer - IPO - of Rashtriya Ispat Nigam Ltd was deferred by the government due to weak market conditions.

 

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