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
KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday. The insurer has collected about Rs 87,300 crore of renewable … Read more
The government has raised Rs 770 crore from stake sale of ammunition and missile systems manufacturer Bharat Dynamics Ltd through an offer for sale, which concluded on Wednesday. “BDL OFS concluded today with a total subscription of about 2.34 crore shares worth Rs 770 crore from institutional and retail investors,” secretary of department of investment … Read more
NEW DELHI: The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. … Read more
New Delhi: Former Union finance minister P Chidambaram on Sunday suggested the government to borrow more to help stimulate demand and revive the country’s economy. The senior Congress leader also suggested some measures to raise money which include relaxing FRBM norms, accelerating disinvestment and borrowing money from global banks. As part of his measures to … Read more
The key is for the Centre to accept that states are at the frontline of this economic battle, and urgently need access to additional resources, not just compensation for inadequate cess collections. Synopsis Markets would see immediately that the risk of default of state governments, with such a large rise in their liabilities, would be … Read more
New Delhi: The government has identified 18 strategic sectors for disinvestment purposes, including coal, crude oil, power, steel, telecom, atomic energy and defence, allowing three to four PSUs in each space while gradually moving out of all other sectors. The 18 sectors have been classified into three categories, which are mining and exploration, manufacturing and … Read more
NEW DELHI: GMR Infrastructure is working on disinvestment of non-core assets including land and hopes to yield “significant value” even from 50 per cent of land monetization, according to a document. The airport-to-port conglomerate in an investor presentation said land at strategic industrial locations will benefit from the possible manufacturing dislocation from China. “Plan is … Read more