Department Of Disinvestment Dod

Facing an uphill target, the Department of Disinvestment (DoD) wants the Employees' Provident Fund Organisation (EPFO) to invest Rs 6,000 crore in India's only exchange-traded fund (ETF) of PSU stocks, but the retirement fund body is now keen on investing only Rs 1,000 crore.

The Department of Disinvestment has initiated talks with the Labour Ministry to persuade retirement fund body Employees' Provident Fund Organisation (EPFO) to invest a portion of its funds in the exchange traded fund of PSU stocks.

The Department of Disinvestment (DoD) is working out modalities for strategic sale of public sector undertakings (PSUs) which will see management control passing on to the private sector, a top government official said on Thursday.

To increase retail participation in PSU stake sales, the Department of Disinvestment is contemplating an aggressive strategy to encourage more people to open demat accounts and reduce the time taken for the same.

The government is looking at using social media platforms including Facebook and Twitter in a big way to generate interest in its disinvestment programme among investors, high net worth individuals and opinion makers.

The Finance Ministry has shortlisted RBSA Valuation Advisers for undertaking fresh valuation of Hindustan Zinc (HZL) and push through a long-pending sale of the government's residual stake in the company in the current financial year.

With stock markets on an upturn and market regulator Securities and Exchange Board of India (Sebi) pushing for a minimum 25 per cent public holding in public sector undertakings (PSUs), the disinvestment department is likely to revise upwards the Rs 51,925 crore PSU stake sale target in the current fiscal year.

The Finance Ministry has already asked the Department of Disinvestment (DoD) to complete the groundwork for stake sales in state-owned companies soon after the budget to take advantage of the bull phase in the stock market.

The government is expected to retain the disinvestment target of Rs 36,925 crore proposed in the interim budget for 2014-15 when it presents the final budget next month.

The Department of Disinvestment (DoD) is working on launching the equity sale of Hindustan Aeronautics Ltd in the second half of the current fiscal year (2014-15), according to a government official.

The government's Department of Disinvestment (DoD), which oversees stake sales in state companies, has also completed most of the overseas roadshows to sell a 5 per cent stake in state miner Coal India, which could fetch about $1.5 billion, the sources told Reuters.

Ahead of the crucial meeting of CIL with the trade union on strike notice, the Coal Ministry has written to the Department of Disinvestment stating that the proposed stake sale in PSU is coming at a time when market conditions are not conducive for the same.

Department of Disinvestment (DoD) had moved moved Cabinet seeking to sell over 7.8 crore shares, or 5 per cent, through an offer for sale (OFS) route in the Tamil Nadu-based miner.

The Finance Ministry has floated a draft Cabinet note for a 10 per cent stake sale in Coal India Ltd (CIL) through the offer for sale (OFS) route, which could fetch around Rs 20,000 crore to the exchequer.

The panel of ministers on disinvestment is likely to meet on Wednesday to decide on the base price for MMTC stake sale, the issue of which is expected to hit the market on June 13.

Facing an uphill target, the Department of Disinvestment (DoD) wants the Employees' Provident Fund Organisation (EPFO) to invest Rs 6,000 crore in India's only exchange-traded fund (ETF) of PSU stocks, but the retirement fund body is now keen on investing only Rs 1,000 crore.

The Department of Disinvestment has initiated talks with the Labour Ministry to persuade retirement fund body Employees' Provident Fund Organisation (EPFO) to invest a portion of its funds in the exchange traded fund of PSU stocks.

The Department of Disinvestment (DoD) is working out modalities for strategic sale of public sector undertakings (PSUs) which will see management control passing on to the private sector, a top government official said on Thursday.

To increase retail participation in PSU stake sales, the Department of Disinvestment is contemplating an aggressive strategy to encourage more people to open demat accounts and reduce the time taken for the same.

The government is looking at using social media platforms including Facebook and Twitter in a big way to generate interest in its disinvestment programme among investors, high net worth individuals and opinion makers.

The Finance Ministry has shortlisted RBSA Valuation Advisers for undertaking fresh valuation of Hindustan Zinc (HZL) and push through a long-pending sale of the government's residual stake in the company in the current financial year.

With stock markets on an upturn and market regulator Securities and Exchange Board of India (Sebi) pushing for a minimum 25 per cent public holding in public sector undertakings (PSUs), the disinvestment department is likely to revise upwards the Rs 51,925 crore PSU stake sale target in the current fiscal year.

The Finance Ministry has already asked the Department of Disinvestment (DoD) to complete the groundwork for stake sales in state-owned companies soon after the budget to take advantage of the bull phase in the stock market.

The government is expected to retain the disinvestment target of Rs 36,925 crore proposed in the interim budget for 2014-15 when it presents the final budget next month.

The Department of Disinvestment (DoD) is working on launching the equity sale of Hindustan Aeronautics Ltd in the second half of the current fiscal year (2014-15), according to a government official.

The government's Department of Disinvestment (DoD), which oversees stake sales in state companies, has also completed most of the overseas roadshows to sell a 5 per cent stake in state miner Coal India, which could fetch about $1.5 billion, the sources told Reuters.

Ahead of the crucial meeting of CIL with the trade union on strike notice, the Coal Ministry has written to the Department of Disinvestment stating that the proposed stake sale in PSU is coming at a time when market conditions are not conducive for the same.

Department of Disinvestment (DoD) had moved moved Cabinet seeking to sell over 7.8 crore shares, or 5 per cent, through an offer for sale (OFS) route in the Tamil Nadu-based miner.

The Finance Ministry has floated a draft Cabinet note for a 10 per cent stake sale in Coal India Ltd (CIL) through the offer for sale (OFS) route, which could fetch around Rs 20,000 crore to the exchequer.

The panel of ministers on disinvestment is likely to meet on Wednesday to decide on the base price for MMTC stake sale, the issue of which is expected to hit the market on June 13.