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.
MUMBAI (Reuters) - State-run Steel Authority of India Ltd (SAIL) has received approval 'in principle' from the government to sell stakes in three units, the company said in a statement on Tuesday.
The London-listed mining conglomerate is also open to the idea of having another investor with a large number of shares in the two companies, provided that they are acquired through the proposed auction route, Vedanta Chairman Anil Agarwal told PTI.
State-run Life Insurance Corporation (LIC) has reduced its stake in Tata Global Beverages Ltd to little over 7 per cent by offloading shares over a period of four months.
Orbit Corporation is in talk to sell stakes in four projects, reports The Economic Times. At 09:29 hrs Orbit Corporation was quoting at Rs 58.50, up Rs 0.75, or 1.30%.
State-run insurance giant LIC and Government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
India plans to raise Rs 30,000 crore by selling stakes in state-run firms in the fiscal year that begins on April 1, Finance Minister Pranab Mukherjee said on Tuesday.