PSU Stake Sale

The finance ministry is likely to provide private data room access to potential bidders of IDBI Bank as soon as next week after it received a fit and proper nod for three suitors from the RBI.

SBI news: Union Finance Minister Nirmala Sitharaman has reportedly said the government is open to the idea of disinvestment of equity stake in blue-chip public sector undertakings, including SBI

The government will be offloading 3.5 per cent stake in HAL through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023.

9-10 serious bidders seek clarity on the expression of interest

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

The rally in PSU pack thus far in CY22 was mostly led by stocks from the banking and defence-related verticals, while those of oil & gas and metals & minerals did not contribute much

The government may sell its shares in tranches through offer for sale (OFS), and the sale will be structured by DIPAM, an official said

The floor price is Rs 88 per share

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Talking about disinvestment plans, the minister said the government wants to sell stakein public sector companies at a time when it fetches the right price

Dipam secretary pointed out there have been hiccups due to Covid-19

Trade union arm of RSS described advisors to govt as 'predatory'

The six PSUs are MMTC, National Mineral Development Corporation, Bharat Heavy Electrical Ltd, Odisha Mining Corporation, Odisha Investment Corporation and MECON

Govt sounds out select few firms over stake sales; might push process to next financial year

The government plans to complete the two sale deals before March 2020 in order to meet its Rs 1,05,000-crore disinvestment target

Govt officials and industry experts confident that the Centre's stake in BPCL can be sold at a premium of 20-30%

At least 25 unions have already called a nationwide strike protesting against the Centre's move to privatise BPCL

BHEL, Hindustan Copper, MMTC and The New India Assurance surged more than 11%, while MOIL, NBCC, NLC India, GIC Re and SAIL were up in the range of 5-10%.

Without off-Budget borrowing, fiscal deficit would have been 3.55 per cent: Finance secretary

Dipam also plans to allow employees of these companies be a part of the offer-for-sale