The government has reconstituted a high level committee for the disposal of enemy properties that have been left behind by those who migrated and took up citizenship of Pakistan and China.
The steel ministry has sent the proposal to sell 10 per cent of the government's holding in state-run Manganese Ore India Ltd to the Department of Disinvestment, Parliament was told on Friday.
Plans disinvestment in IOC and Coal India.
The Department of Disinvestment, which is the nodal department for carrying out PSU stake sale, will finalise the cabinet note after appointment of asset management companies to handle PSU ETF.
As on December 31, government stake in IndianOil stood at 78.92 per cent.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
Market remains extremely volatile before budget.
The Department of Disinvestment will soon appoint merchant bankers to manage 10 per cent stake sale in Engineers India which may fetch Rs 520 crore to the exchequer.
The government had proposed to raise Rs 30,000 crore from divestment in the current fiscal.
The Department of Disinvestment has sought comments on a draft note proposing share sales to public.
The merchant bankers are required to submit their application by December 14.
If the proposal gets Cabinet clearance, the disinvestment is likely to follow the initial public offering of Rashtriya Ispat Nigam Ltd, for which the prospectus has already been filed with the Securities and Exchange Board of India.
Divestment in top PSUs could make the ETF as big as Rs 30,000 crore.
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
Government can announce the decision as soon as Thursday.
The new guidelines restrict bankers not just from advising private sector companies in the 'same line of business' on public issues.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
The Department of Disinvestment in the Finance Ministry will hire an advertising or public relation agency for the purpose.
"Cabinet has so far given approval for the disinvestment of four state-run firms - PFC, SAIL, ONGC and HCL. We are in talks with various ministries and working on a roadmap that should be finalised by June-end," Department of Disinvestment additional secretary Siddharth Pradhan said.
The government is hopeful that 5 per cent disinvestment in blue-chip oil company ONGC will be completed by December, although it has advised SAIL to put on hold its share sale for the time being.
The move is expected to encourage brokers to sell issues, which have not received a very encouraging response so far.
Mitra will take over from P V Bhide after January 31.
With hopes of raising funds through an initial public offer (IPO) or selling a stake to a strategic investor fading due to stiff opposition from the unions, the government is working on a proposal for a private placement of shares for Bharat Sanchar Nigam Ltd (BSNL), India's fifth-largest telecom company,
There is a strong hint that the proposed IPO will be of 11 per cent instead of the earlier plan of 15 per cent (10 per cent public, 2 per cent employees and 3 per cent land losers).
Coal ministry officials along with senior officials from Coal India and department of disinvestment would meet with capital market regulator Securities and Exchange Board of India this month to take forward the process of listing the public sector unit.
The government has already mopped up more than Rs 17,000 crore (Rs 170 billion) through divestment in the current financial year and is on course to achieve the Rs 40,000 crore (Rs 400 billion) target by fiscal year-end.
He said any decision regarding divestment of BHEL has to be taken by the board of the company.
The government at present holds 87.15 per cent stake in the navratna firm.
SAIL on Friday said the finance ministry has given its in-principle approval for 20 per cent disinvestment of the steel giant.
The Ministry of Finance may seek the Union Cabinet's approval for the proposed 10 per cent stake sale in state-owned Coal India Ltd by the end of this month, a senior Coal Ministry official said
The commerce ministry has consented to 10 per cent disinvestment in MMTC that can fetch the government Rs 17,000 crore (Rs 170 billion)at present valuation.
The power ministry had approached the department of disinvestment in August 2007 for approval for NTPC's FPO, which could fetch the company nearly Rs 6,000 crore to part-finance its expansion programme.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
6 locations in New Delhi and 2 in Mumbai were raided.
The Department of Disinvestment, which is looking at mopping up Rs 40,000 crore (Rs 400 billion) from the sale of shares in public sector units this fiscal, has raised about Rs 1,325 crore (Rs 13.25 billion) so far.
The Dipam will work under Finance Ministry.
The government had last sold 5 per cent stake in ONGC in 2012 for Rs 14,000 crore (Rs 140 billion).
Probe reveals "first and second" level of decision making in ministries of finance and commerce was "compromised".
Finance Ministry is considering to sell 5 per cent stake in ONGC in the current fiscal, which could garner about Rs 17,000 crore to the exchequer.
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It is a non-deal roadshow that begins amid threat of workers strike against divestment move
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