Seven PSUs to be listed on stock exchange -Governance Now

Seven PSUs to be listed on stock exchange

The government says the PSUs’ listing on the exchange shall unlock their value and encourage investor participation in the enterprises

GN Bureau | December 28, 2018

#PSU #CPSE #stock exchange

The Centre on Friday has given its go ahead to list seven central public sector enterprises (CPSEs) on the stock exchange through initial public offering (IPO) and further public offer (FPO).

The PSUs include Telecommunication Consultants (India) Ltd. (TCIL), RailTel Corporation India Ltd, National Seed Corporation India Ltd. (NSC), Tehri Hydro Development Corporation Limited (THDC), Water & Power Consultancy Services (India) Limited (WAPCOS Ltd.), FCI Aravali Gypsum and Minerals (India) Limited and Kudremukh Iron Ore Company Ltd (KIOCL).

While addressing the media, minister of law and justice and electronics and information technology Ravi Shankar Prasad said the PSUs’ listing on the exchange shall unlock their value and encourage investor participation in the enterprises. Besides, alternative mechanism comprising of the finance minister, minister of road transport and shipping and the minster of concerned administrative ministry has been asked to decide on the extent, mode of disinvestment, pricing, time of listed CPSEs (including CPSEs to be listed in future).

The scope of eligibility criteria for listing of CPSEs has been expanded. CPSEs with positive net worth and net profit in any of the immediately three preceding financial years shall be eligible for listing on the stock exchange.

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