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

Rs 1,514 crore already spent on cleaning Yamuna

 The major reason for high level of pollution in river Yamuna is inadequate flow due to over extraction of surface and ground water and discharge of untreated effluent, union minister Vijay Goel informed the Lok Sabha on Monday. He said the water resources ministry is supplementing the effor

No central government scheme to run endlessly

 Centrally sponsored schemes will now onwards run for a fixed period of time, thanks to a sunset date. An outcome review will also be carried out.   In public policy, a sunset clause means that it shall cease to have effect after a specific date, unless further legislative/a

What India needs to do to finally become a superpower

For the past 25 years, India has been rising in stature. It is continually called an upcoming superpower but has been unable to reach the promised status. India’s importance in the world is more due to its immense population and potential as a market than any objective assessment of development. Indi

Would keeping an army tank at JNU instil nationalism?

Would keeping an army tank at JNU instil nationalism?

Yogi in politics, TN industries shift base and, how to end the Maharaja’s misery

Everyone in Yogi Adityanath`s office declares that Yogi’s political career is founded on the work carried out from there, first when he was mahant of the influential temple, and then as an MP. Vijendra Singh, who works at the office, says “It’s because of these letters that Yogiji has n

A fifth of Rs 29 lakh crore are NPAs

Banks have advanced a staggering Rs 29,46,060 crore to the industrial sector, of which Rs 6.93 lakh crore are non-performing assets (NPAs).   Finance minister Arun Jaitley informed





Video

कश्मीर पर तीसरे पक्ष की मध्यस्थता स्वीकार नहीं - महबूबा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter