The government will decide on the divestment process in due course, the Department of Investment and Public Asset Management (DIPAM) said, adding that the majority of BPCL suitors expressed their inability to continue.
According to reports, the government is on track to privatise two public sector banks (PSBs) and would take proper steps in the coming months, the administration stated its intention to privatise two PSBs this year in the Union Budget for 2021-22 as well.
As per the Cabinet decision, the Alternative Mechanism will review the process of disinvestment and closure of units undertaken by PSUs.
New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two government officials, who declined to be named, told Reuters.
The Finance Ministry on Friday said Star9 Mobility Pvt Ltd will buy the government’s 51 per cent stake in helicopter services provider Pawan Hans Ltd
Senior officials from 12 ministries will meet on April 29 to share the roadmap for asset monetisation of their departments
The assets are being sold as the government tries to disinvest and restructure several of its non-core sector companies, a report has said
Rising commodity prices, economic recovery is pushing up PSU stocks
As the government prepares to dispose of its holdings in more enterprises, the move is intended to remove pricing ambiguity for possible acquirers.
The first bench of Chief Justice M N Bhandari and Justice D Bharatha Chakravarthy was dismissing the petition from L Ponnammal, a policy-holder with the insurance behemoth who contended that the subject matter would not fall within the definition of Money Bill.
Nearly a year after the Cabinet gave its in-principle approval for the strategic disinvestment and transfer of control of IDBI Bank, the government has finally started conducting roadshows to gauge investor interest in the lender.
A new panel of secretaries has been formed, under the watch of the government's topmost think-tank Niti Aayog, for the "privatisation , divestment and closure" of CPSEs in non-strategic sectors.
The general buzz in the street and the frenzy in the market surrounding the Life Insurance Cooperation (LIC) of India’s initial public offering (IPO) is akin to the Friday release of a much-awaited multi-starrer big budget film. The mega IPO, expected to be the biggest in India’s history, has got everyone involved in tenterhooks. For the government this disinvestment is a huge step. To understand the background, it’s important to look back at India’s three-decade tryst with disinvestment. Watch the video for more.
All eyes are on the LIC’s public offer as apart from liberalising the insurance sector, it is expected to add fuel to the disinvestment programme
DPIIT will soon approach the Cabinet with the draft of the FDI policy that allows disinvestment in state-run insurer Life Insurance Corporation of India.
More policy measures to boost consumption would have been welcome
While there will be a lot of noise around it, you need to keep your eyes trained on four parameters. Here they are.
TSLP submitted the highest bid of Rs 12,100 crore for the takeover of 93.71 percent stake in NINL, the Centre announced on January 31.
When the finance minister will unveil her fourth consecutive Budget on February 1, it will show a 95 percent shortfall in budgeted revenues from the sale of equity stakes in companies it owns.
The detailed judgment will be made available in the public domain shortly, the court intimated.
Swamy has sought a detailed investigation into the disinvestment process which, he claimed, was rigged in favour of Tatas
The proposal may be taken up by the Cabinet early next month, an official told CNBC TV 18, adding that the government expects the hotel's monetisation to be completed by December 2022.
The winning bid of Rs 210 crore was placed by Nandal Finance, the government said. This was above the 'reserve price' of Rs 194 crore fixed for the strategic sale.
As markets look expensive across the board, the PSU basket appears attractive just because of the relatively low valuations.
Government’s policy to retain presence in certain sectors leaves out a large number of big PSUs