State-owned power giant NTPC has received approval from the Department of Investment and Public Asset Management to list its green energy arm NTPC Green Energy Ltd (NGEL) to raise up to Rs 10,000 crore, according to a source. NGEL is expected to go public to raise up to Rs 10,000 crore anytime after March, the … Read more
New Delhi, The government on Thursday invited Expression of Interest (EoI) from bidders by October 15 for strategic sale of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL). The Government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by … Read more
The government has extended the deadline for privatisation till January 7. The government had invited bids for its sale in October. The government and together are looking to sell 60.72 per cent of IDBI Bank. The bidders were asked to submit prelimnary bids by December 16. Following that transaction advisors received requests for an extension … Read more
The government is likely to tweak the railway land use policy and reduce the land licensing fee (LLF) for industrial use to 3.5% from 6%. The move is expected to facilitate strategic divestment of government-owned Container Corporation of India Ltd (Concor) by making the deal more lucrative for players. The proposed reduction in LLF was … Read more
The government has sought proposals from merchant bankers and legal advisors which will be empanelled for two years and help government divest its holdings through dribbling or issuing offer for sale (OFS) of central public sector enterprises from time to time. The department of investment and public asset management (DIPAM) has asked for proposals by … Read more
New Delhi: The initial public offering of WAPCOS is likely to be launched by March end, an official said. The department of Investment and Public Asset Management (DIPAM) had on February floated tenders for engaging a registrar and an advertising agency for selling up to 25 per cent stake in WAPCOS through an IPO. Under … Read more
The government will sell up to 7.49% equity in through an offer for sale on Tuesday where 3.49% will be sold through a green-shoe option. At floor price of Rs 165 per share, the government expects to raise over Rs 3,620 crore from the sale which will be open for retail as well as non-retail … Read more
New Delhi: State-owned NALCO will buy back Rs 749 crore worth of shares, DIPAM Secretary Tuhin Kanta Pandey said on Thursday. The government currently holds 51.50 per cent stake in the company and would tender shares proportionate to its holding. “NALCO has made an offer for buyback of its equity shares for an amount up … Read more
The government is expected to garner Rs 4,374 crore from the Offer for Sale (OFS) of the Indian Railway Catering and Tourism Corp (IRCTC) which closed on Friday. The promoter had proposed to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15 per cent stake, with an option to additionally sell 80,00,000 … Read more
New Delhi: The government will push forth with initial public offers and share buybacks in key public sector enterprises in the remaining months of this financial year, a top official said, following the successful public listing of Mazagon Dock Shipbuilders Ltd. and other offers for sale. “We have made use of the market opportunities through … Read more