In the backdrop of volatility in stock market, the government today said it was not the right time for listing of PSUs.
"Probably today is a bad time, but tomorrow might be a good day," Department of Public Enterprises Secretary DRS Chaudhary said when asked if it is the right time to list public sector enterprises.
He was talking to reporters on the sidelines of a CII function here.
Chaudhary, however, said that PSUs have a great potential and if more such firms are listed, their total market capitalisation could account for over 50% of total market capitalisation (m-cap) of all listed companies on the Bombay Stock Exchange (BSE).
At present, about 50 PSUs, including SAIL and CIL, account for 26.23% of the total market capitalisation of listed companies on the BSE.
"With another 50 Central Public Sector Enterprises and State Level Public Sector Enterprises (SLPEs) listed on stock exchange, their market capitalisation could go up to 50% which would be similar to PSUs share in China and Malaysia," he said.
He said proceeds from public offers could can be used by expansion of PSUs.
Due to the volatility in the stock market triggered by global and domestic factors, the government has managed to mop up only Rs 1,145 crore through disinvestment of PSUs against the target of Rs 40,000 crore during the current fiscal.
Chaudhary said the share of investments by PSUs in the country's Gross Domestic Product (GDP) stood at 8.4% in 2009-10, whereas private firms' investments stood at 22.3%.
During the 12th Five-Year Plan (2012-17), the PSUs are expected to increase their share of investments in India's GDP to 9.1%, while it may be 24% for private companies, Chaudhary said.
