MMTC, BHEL, Hind Copper, CIL, NTPC, NMDC on first short list for disinvestment
In the Union Budget for financial year 2018-19, the government had set a disinvestment target of Rs 80,000 crore.
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| Updated: Govt draws up H2FY19 disinvestment plan; 6 PSUs likely on stake sale short list
By Ruchi Bhatia
The Modi government is learnt to have readied a busy divestment calendar for the remaining seven months of the financial year. The government is likely to cut its holdings in as many as six public sector undertakings through offers for sale (OFS) during the September- March period.
According to ministry sources, MMTC, BHEL, Hindustan Copper, CIL, NTPC and NMDC are on the shortlist for share sale this year.
The government may offload about 8 per cent stake each in Hindustan Copper and NMDC and 5 per cent each in BHEL and Coal India. In NTPC, where the government cut its holding in the previous years too, the stake sale this year would be around 3 per cent, while the biggest stake sale of about 15 per cent will take place in MMTC.
In the Union Budget for financial year 2018-19, the government had set a disinvestment target of Rs 80,000 crore, about 15-20 per cent higher than that of FY18, but suggested that the ultimate figure cross the Rs 1 lakh crore mark this financial year.
The Modi government has been very proactive with its disinvestment programme, having raised around Rs 2,12,000 crore through share sales in PSUs from 2014-15 to 2017-18. The total collection of these four years outstripped the total disinvestment proceeds of the previous 10 years.
The Modi government is learnt to have readied a busy divestment calendar for the remaining seven months of the financial year. The government is likely to cut its holdings in as many as six public sector undertakings through offers for sale (OFS) during the September- March period.
According to ministry sources, MMTC, BHEL, Hindustan Copper, CIL, NTPC and NMDC are on the shortlist for share sale this year.
The government may offload about 8 per cent stake each in Hindustan Copper and NMDC and 5 per cent each in BHEL and Coal India. In NTPC, where the government cut its holding in the previous years too, the stake sale this year would be around 3 per cent, while the biggest stake sale of about 15 per cent will take place in MMTC.
In the Union Budget for financial year 2018-19, the government had set a disinvestment target of Rs 80,000 crore, about 15-20 per cent higher than that of FY18, but suggested that the ultimate figure cross the Rs 1 lakh crore mark this financial year.
The Modi government has been very proactive with its disinvestment programme, having raised around Rs 2,12,000 crore through share sales in PSUs from 2014-15 to 2017-18. The total collection of these four years outstripped the total disinvestment proceeds of the previous 10 years.
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In 2017-18, the ministry went for six IPOs, six offers-for sale, 13 buybacks and one new fund offer for the ETF and 13 strategic disinvestments.Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
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