DIPAM keen on listing green subsidiaries of PSUs, says Tuhin Kanta Pandey

He said, "We are keen to see the many new green companies that we are helping create in green financing -- the green subsidiaries -- be brought to the market in the future."

NTPC Green Energy, NHPC Renewable Energy, SJVN Green Energy, ONGC Green, NLC India Green Energy have all been reported to have plans to raise funds through the capital markets.

Listing the green subsidiaries was discussed as part of the fifth element in DIPAM's strategy of calibrated disinvestment. The other four elements in DIPAM's strategy are linking performance to market standards, capex and growth, having a consistent dividend policy, and communication with investors.

He said that, as a promoter, they also want the enterprise to maximise value, which will then create value for the majority and minority shareholders. Therefore, they are not in a hurry to monetise.

Pandey said, "(We have to see) what we have, how much more we must do, in what frequency; do we create too much of an overhang in the market and allow the market or do we just become a promoter driven stock supply organisation."

"We have to ponder these things and do it in a manner where markets function efficiently and we also participate in disinvestment," he added.

At the Ficci event, the DIPAM Secretary also discussed about the constraints that PSUs face, which the private sector does not have to deal with.