Disinvestment

The government on Monday decided to call off the strategic disinvestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases.

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

Union Finance Minister Nirmala Sitharaman on Saturday said the government is not crazy to rush out to sell everything and the Opposition fully understands the meaning of divestment but would still say "you are selling that off".

Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.

The government had set a disinvestment target of Rs 65,000 crore for the fiscal year 2022-23. However, it failed to meet the target and could raise only Rs 31,106.4 crore. All eyes are now on the Union Budget 2023 to know the government's divestment plans for the next fiscal and how it will utilise its stakes in public sector undertakings.

The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the Finance Ministry said.

Strategic sales in 10 companies, including Air India, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched Rs 45,104 crore.

In the Union Budget for the financial year (FY) 2021-22, Union Minister Bhagwat Karad said, the government's intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced.

The board of Sebi approved amending the takeover regulations in the context of strategic disinvestment of PSUs and consideration payable under open offer.

The shareholders and creditors of NMDC have approved the demerger of the company's under-construction Nagarnar Steel Plant

Government on Monday said it has received multiple preliminary bids for buying Ferro Scrap Nigam Ltd

Competition Commission of India has approved the proposed acquisition of the entire shareholding of AirAsia India Ltd by Air India Ltd

AAI has requested the Government to waive the compulsory dividend payment requirement for the financial year ended March 2022

Finance Minister Nirmala Sitharaman said Government's disinvestment programme is not for shutting down any company but to make it more efficient

The Congress on Sunday raised questions over the deal to sale Centre's 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL), asking why the government did not explore merging the firm with ONGC.

The government on Monday decided to call off the strategic disinvestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases.

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

Union Finance Minister Nirmala Sitharaman on Saturday said the government is not crazy to rush out to sell everything and the Opposition fully understands the meaning of divestment but would still say "you are selling that off".

Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.

The government had set a disinvestment target of Rs 65,000 crore for the fiscal year 2022-23. However, it failed to meet the target and could raise only Rs 31,106.4 crore. All eyes are now on the Union Budget 2023 to know the government's divestment plans for the next fiscal and how it will utilise its stakes in public sector undertakings.

The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the Finance Ministry said.

Strategic sales in 10 companies, including Air India, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched Rs 45,104 crore.

In the Union Budget for the financial year (FY) 2021-22, Union Minister Bhagwat Karad said, the government's intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced.

The board of Sebi approved amending the takeover regulations in the context of strategic disinvestment of PSUs and consideration payable under open offer.

The shareholders and creditors of NMDC have approved the demerger of the company's under-construction Nagarnar Steel Plant

Government on Monday said it has received multiple preliminary bids for buying Ferro Scrap Nigam Ltd

Competition Commission of India has approved the proposed acquisition of the entire shareholding of AirAsia India Ltd by Air India Ltd

AAI has requested the Government to waive the compulsory dividend payment requirement for the financial year ended March 2022

Finance Minister Nirmala Sitharaman said Government's disinvestment programme is not for shutting down any company but to make it more efficient

The Congress on Sunday raised questions over the deal to sale Centre's 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL), asking why the government did not explore merging the firm with ONGC.