Dipam

Listing may spill over into FY23 as geopolitical tensions roil markets

At present, PSU boards have the authority to make equity investments, undertake mergers and acquisitions subject to certain ceilings of net-worth

The issue is an example that capital markets can be run without having to completely rely on foreign investors, Tuhin Kanta Pandey said

The move comes after several petitions challenging the policy were filed across the country

PSUs also have to comply with asset monetisation targets set collectively by their administrative ministry

PSUs in non-strategic sectors would be privatised if feasible or considered for closure.

Dipam deems situation suitable for listing

In the first phase of monetisation, 11 assets of BSNL valued at Rs 18,200 crore, and six assets of MTNL worth Rs 5,158 crore have been approved for monetisation

The board of NLMC would have 13 directors, of which seven would be government officials and six would be from the private sector

There are certain external factors affecting the markets because of the conflict in Europe, and the government is watching the situation carefully, the official said

NINL is a joint venture of MMTC, NMDC, BHEL, MECON and 2 Odisha government PSUs - OMC and IPICOL

Prime Minister Narendra Modi on Wednesday addressed the 11th webinar for discussing Budget-related announcements of DIPAM, an official statement from the PMO said.

The webinars saw an estimated participation of around 40,000 stakeholders

The government has received Rs 888 crore as dividend from three CPSEs, DIPAM Secretary Tuhin Kanta Pandey said on Wednesday.

The government has set a Budget target of Rs 65,000 crore from CPSE disinvestment/privatisation in the next fiscal beginning April 1

In the wake of the market volatility due to the Ukraine-Russia war, there might be a rethink on the timing of the LIC share sale

Tuhin Kanta Pandey said the government is aiming to close the privatisation of BEML and Shipping Corp of India in FY22

The government will invite financial bids for privatising as many as many as six CPSEs, including BPCL, BEML and Shipping Corp, by January, a top government official said on Wednesday. Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), also invited private players to bid for the CPSEs, which are up for privatisation, along with transfer of management control. After 19 years, we will see 5-6 privatisation this year. BPCL is in the due diligence stage. BEML, Shipping Corp, Pawan Hans, Central Electronics, NINL financial bids can take place in December-January so that we can close it by this year itself, Pandey said. Speaking at the CII Global Economic Policy Summit 2021, the secretary said the initial public offering of Life Insurance Corporation (LIC) is expected in the January-March quarter of this fiscal. On LIC IPO, we are working very hard. For the capital market, it will be a very big event in the first quarter of 2022, Pandey ...

The LIC IPO is expected to become the biggest one in India

Target rationalised to for better accounting, avoiding market distortion