May 14, 2013, 07.10 PM IST
CNBC-TV18’s Aakanksha Sethi reports that the government plans to kick-start its divestment drive in June with issues from NHPC and IOC.
As the government gears up to meet its Rs 40,000-crore divestment target for this year, a slew of public issues are set to hit the stock markets from June onwards, reports CNBC-TV18's Aakanksha Sethi.
The government's divestment drive is likely to kick-off from June with issues from PSUs such as ITDC , National Fertilisers Limited , State Trading Corporation and MMTC set to hit the market. These companies have to meet Sebi's requirement of a minimum 10-percent public float before August 8, 2013.
Loss-making PSUs that are listed are likely to be delisted because according to the government's divestment policy, only PSUs that have been making profit for three years can be listed. And since these companies have to also meet Sebi’s norms, they are likely to be delisted.
The department of divestment has also floated a Cabinet note for an 11.36-percent divestment in the National Hydroelectric Power Corporation (NHPC) via the offer-for -sale route as well as divestment in Indian Oil along with Coal India and Hindustan Copper .
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