Page 5 - Divestment

Proximity to PM's house stalls divestment in Hotel Ashok, Samrat

ITDC is divesting its share of 51% in the joint venture company formed for operation of the hotels

Govt gears up for divestment drive

Offers for sale, IPOs, ETF and mergers and acquisitions planned to raise Rs 72,500 cr

Government gets proactive on divestment

The government seems to be taking a proactive approach towards divestment this fiscal. While the center has already wrapped up the offer for sale (OFS) of National Aluminum Company (Nalco) last week, in the next few months it is lining up stake sales in seven public sector entities (PSUs). These include Indian Oil Corporation (IOC), NTPC, Steel Authority of India (SAIL), NTPC, NHPC, Rural Electrification Corporation (REC) and Neyveli Lignite Corporation (NLC). The move is seen as an attempt to plan out the divestment issues evenly during a year and avoid clogging of issues in the last few months. The government has set itself an ambitious divestment target for the current fiscal. As per the Union Budget, center plans to raise Rs 72,500 crore through divestment during the current fiscal. Of the total amount, government expects to garner Rs 46,500 crore though minority stake sales. It plans to garner Rs 11,000 crore from strategic stake sales which involves selling of the stake ...

Cabinet gives in-principle nod to biggest divestment drive

The PSUs include loss-making and profit-making entities as well as assets such as factories and plants

Why this could be the best year for divestment

If the government can fix a few glitches in its process, it can get closer than ever to hitting the target

Strategic divestment in PSUs within 6 months: Arvind Panagariya

Panagariya said NITI Aayog has also done a report on identifying the units that are sick and may need to be closed down