The government has decided to exercise the green-shoe option and retain the additional Rs 4,368 crore worth bids received, the Department of Investment and Public Asset Management (DIPAM) said in a tweet.
The government is at present on the look-out to tap newer sources of revenue as it tries to address the country's developmental needs.
It should not be viewed as selling the family silver but for changing the structure of PSUs and improving their efficiency.
Sitharaman in her speech said that the government has been following the policy of disinvestment in non-financial public sector undertakings without taking the government's stake below 51 percent.
NITI Aayog has given a list of around 50 assets, including land and building, of state-owned companies for sale to the Department of Investment and Public Asset Management, a wing of the Finance Ministry which deals with disinvestment.
The Cabinet in November 2018 had given its go-ahead to the Department of Investment and Public Asset Management (DIPAM) to sell 'enemy shares' and 'enemy properties' -- which refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India.
The Department of Investment and Public Asset Management (DIPAM) on Monday issued the guidelines for monetisation of non-core assets of CPSEs and immovable enemy properties, following a Cabinet decision in February.
The 'Asset Monetisation cell' will also deal with cases related to the sale of immovable enemy property, which refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India.
Last year, the government had invited bids from private companies, including foreign ones, to buy out its stake in Pawan Hans
The department of Investment and Public Asset Management (DIPAM) has invited Expression of Interest (EoI) from interested bidders having minimum net worth of Rs 50 crore as on March 31, 2018.
The proposal is to dilute the stake through the Offer for Sale (OFS) route.
ONGC board had first on June 29 approved exiting Pawan Hans and its interest being clubbed with the 51 percent government stake that is already on offer for sale.
Subscription has come in for 2.57 times of the base issue size of Rs 6,000 crore. The total bids that has come in is for Rs 15,436 crore and 1.2 lakh applications have come in, ICICI Prudential Mutual Fund, which is managing the follow-on fund offer (FFO) of Bharat-22 ETF, said in a statement today.
As a result of the tax benefit, as many as six crore active folio holders in mutual funds would now have more incentive to invest in ETF, says Neeraj Kumar Gupta
Edelweiss Securities, Goldman Sachs and Deutsche Equities are the merchant bankers advising the government on the share sale
Divestment is being done with a purpose to share the wealth of the company with the public, said Neeraj Kumar Gupta, DIPAM Secretary.
Clarifying on the 'conflict of interest' clause, the department of public asset management (Dipam) has allowed the participating investment banks to take up certain types of capital market offerings by rival companies in the private sector.
The Securities and Exchange Board of India (SEBI) and the government are looking at various options to work around the challenges the Centres faces to offload its stakes in public sector companies to meet the August 2017, reported Business Standard.
The official said that options like offer for sale (OFS), share buyback, block deal and exchange traded fund (ETF) were used for the first time to carry out the divestment procedure.
Two months after the Union Cabinet gave a go ahead to the listing of five general insurance companies, the Department of Investment and Public Asset Management (DIPAM) has set the ball rolling for listing of GIC Re
The companies listed so far include National Textile Corporation, Fertilisers and Chemicals Travancore, Hindustan Antibiotics, Scooters India and Hindustan Fluorocarbons.
The central government is likely to write to the market regulator Securities and Exchange Board of India (SEBI) for accelerating equity offer documents. This will help the regulator meet its aim of timely listing of the public sector undertakings (PSUs), reports today‘s Business Standard.
Speaking to CNBC-TV18, Neeraj Gupta said that investors are willing to invest in success story of public sector undertaking (PSU) companies and the high demand in the PSU equity is a healthy trend.
The government will begin tomorrow 5 percent stake sale in state-owned aerospace and defence company Bharat Electronics Ltd to raise about Rs 1,600 crore.
ONGC will have to settle dues worth Rs 2500 crore and this could have a Rs 1600-1700- crore impact on profit, says Director-Finance AK Srinivasan.