GN Bureau | October 7, 2015
The global roadshows at four locations to attract investments for its big-ticket stake sale in the country’s largest power producer NTPC and BEL began on Monday (Oct 5). The campaign that may fetch around Rs 6,600 crore to the exchequer, will end on October 10.
The ministry of power and NTPC both are conducting roadshows in Singapore, Hong Kong, London and in the US. Roadshows are being held in San Francisco, Boston and New York.
The cabinet has already approved 5 per cent stake sale in NTPC. Both NTPC and Bharat Electronics Limited form part of the basket of two public sector units, which the department of disinvestment had created earlier this year.
According to officials, the government will go ahead with the disinvestment of the two companies based on investor responses in the roadshows and the domestic equity market conditions.
The government has so far been able to collect only Rs 12,600 crore from stake sale of four PSUs - Power Finance Corporation, IOC, Dredging Corporation and Rural Electrification Corporation. For the current fiscal, it plans to raise Rs 69,500 crore, including Rs 41,000 crore via disinvestment of Central Public Sector Enterprises (CPSE) and Rs 28,500 crore from strategic sale of PSUs.
If government achieves Rs 30,000 crore this year, it would still be the highest-ever disinvestment kitty in a year for the government.
The government had in August appointed Deutsche Bank, ICICI Securities, SBI Capital Markets and Edelweiss Financial Services as merchant bankers for the second basket -- which apart from NTPC and BEL, also has Engineers India, NALCO and Hindustan Copper.
DoD had decided to bundle the PSUs in order to reduce the number of roadshows to be conducted by the merchant bankers as that can be clubbed for companies in similar sector.
Finance minister Arun Jaitley last week reviewed the situation in the government's divestment programme in connection with generating revenue, and announcements of stake sale would be made at the appropriate time.
The number of civic complaints with BMC has increased from 61,910 in 2015 to 92,329 in 2017, which is 49% in two years. A report titled ‘Civic Issues Registered by Citizens and Deliberations done by Municipal Councillors in Mumbai’ released by Praja Foundation has found some interesting facts a
Atishi Marlena is among the nine AAP functionaries who were dismissed by the union home ministry asserting that their posts were created without the approval of the centre. Marlena, served as education advisor of the Aam Aadmi Party (AAP)-led government in Delhi. While she was intrumental in improving the
The Fortune magazine has named three Indians – lawyer Indira Jaising, industrialist Mukesh Ambani and architect Balkrishna V Doshi – among the world’s greatest fifty leaders.
Remember Kardashev scale? For the uninitiated, it’s a method of measuring a civilization’s level of technological advancement, based on the amount of energy it is able to use for communication. We will get to its unconventional relevance to the big urban questions at the end, but just keep it a
Out of 1580 MPs and MLAs with criminal cases, 48 (three MPs and 45 MLAs) have declared cases related to crime against women. The Association for Democratic Reforms (ADR) and
It’s always lonely at the top. Prime minister Narendra Modi’s marathon townhall event at the Central Hall Westminster, titled ‘Bharat ki Baat, Sab ke Saath’, was nothing but his way of shedding that loneliness, communicating and mingling with people and showing his vulnerable side.