Firms identified for disinvestment in mineral, oil, metal, energy sectors

The finance ministry on Tuesday said that some state run enterprises have been identified for disinvestment in sectors like mineral and metal, oil, energy, capital goods as well as some mid-size and small stocks.

So far in this fiscal, the government has raised around Rs 3,183 crore from disinvestment of NHPC and employee offer for sale (OFS) of IOCL and NTPC, said minister of state Arjun Ram Meghwal in Rajya Sabha.

The government has budgeted for Rs 56,500 crore of revenue from disinvestment, including Rs 20,500 crore from strategic sales in this fiscal.

The Cabinet Committee on Economic Affairs has approved the structure for ''strategic disinvestment'' of CPSEs, said Meghwal adding that the government has expressed intent to participate in buyback shares proposed by NALCO, MOIL, NMDC and CIL.

Last fiscal, the government was able to raise Rs 33, 172 crore as against the target of Rs 69,500 crore.

This amount includes Rs 1,023 crore realized as buyback tax on account of buyback transaction, undertaken by unlisted CPSEs and Rs 8,152 crore on account of sale of bonus debentures of NTPC to EPFO, said Meghwal.

Earlier this month, the government had invited applications from merchant bankers and selling brokers in a request for proposal or RFP for sale of SUUTI holdings in different companies, which were later bracketed into three groups.

The SUUTI holds 11.16% stake in ITC, 8.32% in L&T and 11.94% in Axis Bank at present. These holdings are together worth nearly Rs 62,000 crore.