The government would also wait for a good offer before deciding on the stake sale, sources told CNBC-TV18.
The mines ministry sources have told CNBC-TV18 that any dilution of section 111A of the Companies Act will weaken the government‘s case. The government is defending three cases on Balco and Hindustan Zinc Limited (HZL) call options, reports CNBC-TV18‘s Anshu Sharma.
Some agencies have been reporting that Natco Pharma’s fund raising plan might be expedited and take place in the next one or two months. Finance director and chief financial officer Bhaskar Narayana told CNBC-TV18 that the Rs 100 crore qualified institutional placement (QIP) would result in 7-8% dilution.
Future Group firm Pantaloon Retail India Ltd (PRIL) today said it plans to raise up to Rs 1,500 crore by issuing equity-linked securities amounting to stake dilution of not more than 15%.