DIPAM aims to privatise BPCL, BEML and 4 others by end of current fiscal

The Centre set to seek financial bids for privatising at least six central PSUs including BPCL, BEML and Shipping Corp, by December- January, DIPAM Secretary Tuhin Kanta Pandey said on Wednesday.

After 19 years, we will see 5-6 privatisation this year. BPCL is in 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,” he said.
while addressing Global Economic Summit, organized by CII.


Dipam learnt to have also invited private players to bid for these companies which are up for privatisation, besides transfer of management control.

On the initial public offering of Life Insurance Corporation (LIC), the secretary said that it is expected in the January-March quarter ( fourth quarter) of this fiscal.

“On LIC IPO we are are working very hard. For capital market it will be a very big event in the first quarter of 2022,” Pandey said.

On Air India he said that the Government aims to complete handover of national carrier by December.

The public debut of LIC is important for the government it’s it is on the verge of missing the the disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March).

So far, Rs 9,330 crore has been mopped up through minority stake sales in PSU and the sale of SUUTI stake in Axis Bank.

Cooperation from private sector is also required. They too have a role to play so that they bid for the CPSEs which are on sale, he said.

“We are moving towards a situation in privatisation where it is not only in policy but also in action,” said Pandey.