Monday, October 3, 2022

Dus Ka Dum: 10 CPSEs lined up for initial public offering next fiscal

Must read

New Delhi: Including THDCIL, TCIL, and RailTel, 10 central public sector enterprises (CPSEs) have been queued up for initial public offering (IPO), the Finance Ministry said on Saturday. Plans have already started taking place to raise sector-specific exchange-traded funds (ETFs) to meet the Rs 90,000 crore disinvestment target for the coming financial year. The ministry also plans to proceed with the monetisation of non-core assets of state-run firms and the strategic disinvestment of a number of CPSEs.

Monestisation of non-core assets of PSUs on board

“We have about 10 IPOs which are lined up already. Then there are a lot of companies which have to meet their minimum public shareholding target. We will also bring a new theme based on ETFs. Then there would be strategic disinvestments and post elections we would top it up sharply and asset monetisation framework will see the light of the day next year,” Atanu Chakraborty, Secretary in the Department of Investment and Public Asset Management (DIPAM), said.

A target of Rs 90,000 crore was set by the Interim Budget to be mopped up from CPSE disinvestment in the next fiscal, higher than Rs 80,000 crore in this fiscal.

Rs 36,000 crore raised till now

Through stake sale in CPSEs, along with tranches of ETFs and share buybacks, Rs 36,000 crore so far has been raised in the 10 months of this fiscal. The government has a task on its hands to mop up another Rs 44,000 crore from disinvestment by the year ended March.

“All transactions are in place to meet the Rs 80,000 crore target set for current fiscal,” Chakraborty said.

- Advertisement -

More articles

- Advertisement -

Latest News