Three PSUs likely to file draft red herring prospectus -Governance Now

Three PSUs likely to file draft red herring prospectus

The government aims to raise about Rs 3,800 crore

GN Bureau | December 15, 2016

#PSU #Cochin Shipyard #Hudco #Hindustan Aeronautics #IPO #red herring prospectus

Cochin Shipyard, Hudco and Hindustan Aeronautics are likely to file draft red herring prospectus within a week with market regulator Sebi for their initial public offering (IPOs).

The government aims to raise about Rs 3,800 crore, Financial Express on Thursday quoted an official as saying.

The Centre could raise about Rs 350 crore via 10 percent stake sale in the ship building and maintenance firm’s IPO, the first PSU to be listed after a gap of more than three years, in the March quarter of FY17. It will be followed by listing of the Housing and Urban Development Corporation (Hudco).

The Centre plans to sell 10 percent in Hudco to raise nearly Rs 1,500 crore by diluting 10 percent.

The 10 percent government stake sale via IPO of military plane maker Hindustan Aeronautics (HAL) to raise nearly R 2,000 crore might spill over to early FY18.

The Centre had raised Rs 4,284 crore by selling back a portion of its stake in HAL back to the company in March, 2016. The move was aimed at improving key financial ratios such as price-to-earnings, to make it more attractive for investors.

Comments

Other News

Election Results: NC-Cong leads in J&K, BJP in Haryana

The vote counting on Tuesday after the assembly elections of Jammu & Kashmir and Haryana has been mostly on predictable lines, except for a twist: in J&K, as expected, the National Conference in alliance with the Congress is on the way to securing a creditable mandate, but in Haryana the BJP is pro

NCERT ties up with Amazon to make textbooks more accessible

Union minister for education Dharmendra Pradhan on Monday presided over the signing of a Letter of Engagement (LoE) between NCERT and Amazon Seller Services Pvt Ltd. This is the first such tie-up, which will ensure access to original NCERT textbooks at the printed price on major e-commerce platforms.

DoT combats cyber-frauds: System soon to stop spoofed calls

In recent times, citizens have been receiving many fraudulent calls, often disguised as originating from Indian mobile numbers. These calls are in fact manipulated by cyber-criminals operating from abroad. These criminals exploit the Calling Line Identity (CLI) to mask the actual origin of the calls, which

Deep history of our languages show who we Indians are

Discovering India Anew: Out of Africa to Its Early History (Second Edition) By Alan Machado (Prabhu) Orient BlackSwan, 356 pages, Rs 750

Polling concludes for J&K assembly

The polling for the Jammu & Kashmir legislative assembly elections concluded on Tuesday in a peaceful and celebratory atmosphere. Scenes of voters patiently waiting in lines at polling stations, set against the scenic backdrop of the region, highlighted the people`s strong faith in democracy. The festi

Advancing green growth via bio-manufacturing and bio-foundry initiative

In the ongoing problem of facing environmental challenges, the call for sustainable practices has become more pressing than ever. Nations have started to strive to reduce their carbon footprint and mitigate the adverse effects of industrialization, innovative solutions are imperative. Unfortunately, due to