Govt keeps anchor investor options open for PSU public offers

KOLKATA: The proposal for anchor investors is being kept open by the government for the forthcoming public offer by PSUs, though it was dropped in the case of the mega IPO of Coal India.

"We are not dropping the anchor investor plan for the forthcoming public offers. We will take a decision depending on the situation," Disvestment Secretary Sumit Bose told media.

Asked about the reason for dropping the anchor investor plan for the country largest initial public offer, CIL, Bose said, "it was done after we found extremely positive response from both foreign and domestic institutional investors and the need was not felt."

Sources in the government had earlier said that the plan for anchor investor was dropped due to lack of transparency in the allotment process.

The government has lined up public offers in PowerGrid Corporation, Shipping Corporation, Manganese Ore India, Hind Copper, SAIL, Indian Oil and ONGC.

It aims to garner Rs 40,000 crore from these divestments during the current fiscal.