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 central government will provide free food grains to about 81.35 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from January 1, 2024, the cabinet decided on Wednesday. Terming it as a “historic decision”, a
Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of
India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be
Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499
Deepfake has emerged as a serious threat to democracy and social institutions across the world. Propagation of deepfake content via social media platforms has aggravated this challenge. Ministry of Electronics and Information Technology (MeitY) has, from time to time, advised social media in
Two level of roads not enough, BMC to have triple traffic jams through underground junctions There is no shortage of short-sighted traffic experts who believe that creating more vertical space (either above or below the level) in already overcrowded and congested cities will be cou