The IPO is entirely an offer for sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters. It remains to be noted that selling shareholders will be getting multi-fold returns to its investments with this initial public offering.
"The offering would consist of a sale of existing shares only held by Royal Philips, the current sole shareholder of Philips Lighting. The offering and listing, and their timing, are subject to, among other factors, market conditions," the Amsterdam-based Philips said in a statement.
Various options are being considered, including strategic sale and offer for sale (OFS), for dilution of the government stake in IDBI Bank, but these are at a preliminary stage, sources said.
Faced with the sliding rupee, the government is considering allowing unlisted companies to launch public offers in overseas markets.
US regulators on Monday approved a plan to compensate market makers who lost money in a botched Facebook Inc public offering in May on the Nasdaq exchange.
Prithvi Haldea, chairman and managing director of Prime Database joins CNBC-TV18 to make sense of where the government's divestment plan is headed and what to expect going forward.