Page 5 - Divestment

India slashes its expected proceeds from LIC IPO to over Rs 21,000 crore

The initial public offering (IPO) of the state-owned insurer is a billion dollars short of its projection last week, and a third of the more than $8 billion it initially planned to raise in February

Govt may revisit BPCL privatisation, including revising the terms of sale

The transition towards green and renewable fuel has made privatisation difficult in existing terms: Official

HDFC Ltd divests 1% stake in Ansal Housing for nearly Rs 49 lakh

Housing finance major HDFC Ltd on Tuesday divested 1 per cent stake in real estate company Ansal Housing & Construction Ltd through an open market transaction. According to bulk deal data available with the NSE, Housing Development Finance Corporation Ltd (HDFC) sold a total of 5,74,726 shares, amounting to 0.96 per cent stake of Ansal Housing Ltd. The shares were offloaded at an average price of Rs 8.47 apiece, valuing the transaction at Rs 48.67 lakh. The scrip of Ansal Housing closed 2.53 per cent lower at Rs 7.70 apiece on the NSE.

Govt may review timing of LIC IPO amid Ukraine crisis: FM Sitharaman

'If global considerations warrant that I need to look at it (LIC IPO), I wouldn't mind looking at it again,' says FM

Banks and railways privatisation will take away 500,000 jobs: Varun Gandhi

For the last several months, Varun Gandhi, BJP MP from Uttar Pradesh's Pilbhit has been expressing views on various issues that are not in line with his party's official stand

LIC's looming mega IPO weighs on other insurers' stocks, say investors

The flotation, potentially raising $8 billion, likely will continue to drag on LIC's competitors for about a year and could spread to other sectors: Analysts

LIC policyholders must update PAN details by Feb 28 to participate in IPO

The initial public offering (IPO) of over 31.6 crore shares or 5 per cent government stake is likely to hit the market in March

Ahead of mega IPO, TN CM Stalin asks Centre to rollback LIC divestment

An ideal government builds institutions instead of involving itself in a selling spree. I urge the Union government to rollback this ill-thought-out decision and save LIC India: Stalin

DIPAM's internal estimates had pegged FY23 divestment target at Rs 1.2 trn

Target rationalised to for better accounting, avoiding market distortion

Budget 2022: Slashed asset sale target raises questions about LIC IPO

'We should not conjecture on size of LIC IPO as valuation still underway,' says DIPAM Secretary

Farm-loan waiver, tax cuts, fiscal prudence: Expectations from Budget 2022

With five state elections in the coming months - Uttar Pradesh and Punjab being the major ones - some populist measures are also not ruled out, analysts said.

Privatisation of public sector units to drive divestment receipts: MoS

Finance ministry says scope for minority stake sale has declined

Inox Wind arm inks share purchase agreement to divest stake in six firms

Inox Wind on Monday said its arm has inked a share purchase agreement to sell its entire equity stake in six firms to wholly-owned subsidiary Resco Global Wind Services.

Improving business prospects, divestment make analysts bullish on PSU stks

In the last 10 years, though PSU stocks have gained ground, they have mostly been laggards at the bourses

Jubilant Ingrevia arm divests 10% stake in Safe Foods Corp for $18.2 mn

Jubilant Ingrevia on Wednesday said its subsidiary Jubilant Life Sciences International Pte Ltd has divested its 10 per cent stake in Safe Foods Corporation for a consideration of $18.2 million

IDFC faces investor ire on delay in divestments and mergers

Chairman Vinod Rai said the company had a very complex corporate structure

Strategic divestment to get tax deduction for previous losses

However, this relaxation would cease to exist after the private company stops holding 51 per cent in the erstwhile public sector company after strategic disinvestment

Govt appoints Atul Bhatt as CMD of Rashtriya Ispat Nigam Ltd

Atul Bhatt has been appointed as chairman and managing director (CMD) of disinvestment-owned steel company Rashtriya Ispat Nigam Ltd (RINL), according to an official notification.

IDBI Bank board approves divesting entire 19% stake in ARCIL

IDBI Bank on Friday said its board has okayed a proposal to divest its entire stake of over 19 per cent in ARCIL

KPMG to assist government in strategic divestment of IDBI Bank for Rs 1

The near-zero bid could make KPMG one of the largest players in managing deals in the financial services space if IDBI Bank sale is a success