Sell-off: CCD to meet on Thursday

NEW DELHI: The Cabinet Committee on Disinvestment (CCD) will meet on July 10, Disinvestment Minister Arun Shourie said on Tuesday.
The CCD is likely to take up, among other issues, the highly successful public offer of shares by car market leader Maruti Udyog (MUL).
The meeting will take place on July 10, Shourie said on the sidelines of a National Informatics Centre (NIC) function.
Earlier, official sources said the minister will brief the committee on the public offer of MUL shares, which closed last month recording a massive oversubcription by 13 times.
The meeting is also expected to firm up transaction documents for sale of government equity in National Fertilisers, prior to inviting financial bids.
Transaction documents for Hindustan Organic Chemicals and Shipping Corporation of India, where the government proposes to offload controlling stake, are also likely to figure in the meeting, the sources said.
The issue of sale of residual stake in PSUs which have been disinvested is unlikely to come up at the meeting, sources indicated stating that the proposal had to be vetted at various levels before being taken up at the Cabinet level.