Page 11 - Nikunj Ohri

Ground-handling arm of Air India to be monetised first: DIPAM Secy

In a Q&A, Tuhin Kanta Pandey says govt has started initial investor outreach for the LIC IPO, and investment bankers are working on a strategy

DIPAM likely to decide on commercial matters for PSU privatisation

The panel headed by the cabinet secretary is yet to decide whether DIPAM can be empowered to take decisions on pricing matters for PSU privatisation

Air India returns to Tatas after group puts in winning bid of Rs 18,000 cr

Airline will return to Tatas after 68 years; first privatisation move in two decades

Govt push on Air India sale slows down other privatisation proposals

Next on the Centre's priority list is listing insurance behemoth LIC

Reserve Bank of India grants licence to NARCL under Sarfaesi Act

The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 per cent in the bad bank

ADB trims India's FY22 growth forecast to 10% on second wave impact

Downward revision stems from India's economic recovery getting impacted due to spike in Covid-19 cases in May, the agency said

LIC agents to steer awareness campaign for retail investors ahead of IPO

Move comes ahead of India's largest IPO, expected later this year

Govt extends Uday Kotak's term as IL&FS non-exec chairman by 6 months

Kotak, who is also the managing director and chief executive officer of Kotak Mahindra Bank would continue being the non-executive director on the board of IL&FS until April 2, 2022

Govt backs NARCL with Rs 30,600-crore guarantee for five years

Stressed assets of about Rs 2 trillion to be acquired in phases

Govt may select winner in Air India's disinvestment in about three weeks

The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline

Union Cabinet clears decks for National Asset Reconstruction Company

Approves government guarantee on security receipts that will be used to buy bad loans of lenders

Govt to sell up to 10% stake in Hind Copper via OFS, may garner Rs 1,120 cr

The government will sell 5% or 48.3 million shares in the copper miner at Rs 116 apiece on Thursday and Friday

ONGC likely to buy out IL&FS stake in Mangalore Special Economic Zone

The deal is likely to be concluded at 'fair value' after ONGC's attempt to buy out the shadow lender's stake in JV at deep discount failed

High fuel prices push up August WPI inflation to 11.39%

WPI inflation rose marginally even as retail inflation measured by Consumer Price Index slipped to a four-month low of 5.30 per cent as prices of manufactured products spiked

LIC IPO: Govt amends fee structure for legal advisors after failed attempt

DIPAM introduces "milestone payments" in RFP; the legal advisors were earlier supposed to get their fee "after successful and satisfactory completion of the transaction"

Loss-making PSUs more attractive for buyers after income tax tweak

Investor must retain at least 51% stake to take the benefit

Review meet on disinvestment, privatisation of defence PSUs on Monday

The plan to bring down the government's shareholding and the broad timeline for the sale would be shared with the ministry

PNB board approves Rs 6,000 crore capital raising plan

The plan includes raising of AT-1 bonds or AT-2 bonds or a combination of both. The capital would be raised in one or more tranches

PNB cuts savings deposits rate by 10 bps to 2.9%, effective Sept 1

Bank officials said the decision is partly driven by huge liquidity that the bank continues to manage and also correction in rates vis-a-vis peers, especially PSU banks

Govt constantly engaging with industry to support economic revival: FM

Says health care sector, which had to function at its best during peak Covid needs support now to ramp up capacities, bring in better technologies and facilities