Modi govt’s 13 strategic disinvestments in 10 years

The proposed sale of a majority stake in IDBI Bank to Canada's Fairfax will be the Modi government's 13th strategic disinvestment in a public sector undertaking over the past decade.

At Rs 52,878 crore, the deal will also be the government's largest strategic disinvestment so far, exceeding the Rs 36,915-crore HPCL stake sale in FY18 and the Rs 18,000-crore sale of Air India to the Tata Group in 2021.

Over the years, the Centre has sold stakes in several public sector companies, including those in aviation, energy, shipping and infrastructure. Some of these deals involved transfers to other government-owned companies, while others brought in private buyers.

A look at major strategic disinvestments over the past decade

FY27: A 60.72% stake in IDBI Bank is set to be sold for Rs 52,878 crore.

FY27: Indian Medicines Pharmaceutical Corporation was sold for Rs 119 crore.

FY24: Ferro Scrap Nigam Ltd, a wholly owned subsidiary of MSTC Ltd, was sold to Japan's Konoike Transport Co Ltd for Rs 320 crore. The proceeds did not go to the government exchequer.

FY23: Neelachal Ispat Nigam Ltd, a joint venture involving central and state public sector companies, was sold to Tata Steel Long Products Ltd for Rs 12,100 crore. The proceeds did not accrue to the exchequer.

FY22: Air India, along with its subsidiaries AIXL and AISATS, was sold to Tata Group-owned Talace Pvt Ltd for Rs 18,000 crore. Of this, the Tatas paid Rs 2,700 crore in cash and took over Rs 15,300 crore of debt.

FY20: THDC India Ltd was sold to NTPC for Rs 7,500 crore.

FY20: North Eastern Electric Power Corporation Ltd (NEEPCO) was acquired by NTPC for Rs 4,000 crore.

FY20: Kamarajar Port Ltd was sold to Chennai Port Trust for Rs 2,383 crore.

FY19: Power Finance Corporation acquired the government's 52.63% stake in Rural Electrification Corporation for Rs 14,500 crore.

FY19: HSCC (India) Ltd was sold to NBCC for Rs 285 crore.

FY19: National Projects Construction Corporation Ltd was sold to WAPCOS for Rs 80 crore.

FY19: Dredging Corporation of India Ltd was sold to a consortium of ports for Rs 1,049 crore.

FY18: ONGC acquired a 51.11% stake in Hindustan Petroleum Corporation Ltd (HPCL) for Rs 36,915 crore.


(With PTI inputs)