The government seems to be on a roll after kick-starting its divestment drive with Hindustan Copper and there are lots of others lined up as well, reports CNBC-TV18’s Aakansha Sethi.
After the Hindustan Copper issue next up is the National Mineral Development Corporation (NMDC) divestment likely on December 12 or December14 post which the government is likely to take a break up to January 7 when divestment will resume. Issues likely to be assumed in Q4 are Oil India, Metals and Minerals Trading Corporation of India (MMTC), National Aluminum Company Ltd (Nalco) and National Thermal Power Corporation (NTPC).
The Steel Authority of India (SAIL) issue had got Cabinet Committee on Economic Affairs (CCEA) approval for this fiscal but it is unlikely to take place during this fiscal. This is because the Ministry of Steel and Department of Heavy Industries is not on board for Bharat Heavy Electricals Limited (BHEL) so that is also likely to be postponed.
For Oil India, the Finance Ministry was keen to go ahead with the issue in December itself where there seems to be some difference over timeline between the Oil Ministry and the Finance Ministry. Hence that issue is also likely in Q4.
Also the Finance Ministry is working on a cabinet note for Rashtriya Chemicals and Fertilisers (RCF) and it is likely to come up for CCEA approval in the first week of December. That will be a 12.5 percent divestment. Also the PSU-ETF may not work out for this fiscal and is likely in the next fiscal. The government is hoping to get Rs 30,000 crore from these issues and is also considering the possibility of an open offer for Hindustan Zinc and Bharat Aluminium Company Ltd. (BALCO). It is speaking to Securities and Exchange Board of India (SEBI) to consider if open offer is possible for these two so as to discover the market price.
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