Centre to raise Rs 1,200 cr through Nalco disinvestment

Department of investment and public asset management has set a record target of raising Rs 72,500 crores through disinvestment in 2017-18 FY

GN Bureau | April 21, 2017


#PSU   #Nalco   #National Aluminium Company Limited  
The centre has successfully divested 9.2 percent of paid-up capital in the National Aluminium Company Limited (NALCO), a Navratna enterprise, to raise Rs 1,200 crores.
 
 Department of investment and public asset management (DIPAM) under the ministry of finance has set a record target of realising Rs 72,500 crores through disinvestment in the current fiscal. The government had raised Rs 46,247 crores in the last fiscal. 
 
Originally, the disinvestment in NALCO offer for sale (OFS) was pegged at 5 percent, but after getting overwhelming response from the market, DIPAM raised the offer to 9.2 percent on April 19. With this, the centre’s shareholding in NALCO has come down to 65.37 percent. 
 
The retail investor continues to back PSUs’ disinvestments by DIPAM. For the fourth time in a row, retail investors out-performed institutional investors. This is particularly satisfying to DIPAM, as one of the objectives of disinvestment policy is to make PSU shareholding broad-based so that country’s wealth is shared by its citizens.
 

Comments

 

Other News

Expanding Eureka!

Abright yellow van with figures of children playing with a whirligig, a Newton’s cradle, a magnetic compass rolls into the Government Higher Primary School in Kittaganahalli, on the outskirts of Bengaluru. Students in the playground leave what they are doing and mill about it in excitement. For they

The spark in the classroom

Not many children dream of starting an idyllic school of their own when they grow up. But Ramji Raghavan, founder of the Agastya International Foundation – which fosters the creative learning of science in stude

Trafficking survivors’ votes don’t count

While the entire nation is agog with political grapevine, political parties are weighing on all options to lure voters by touching upon issues that impact their lives. Several parties, including the BJP and the Congress have released their manifestos while many are about to join the bandwagon. The

“I have a bigger reason and motivation to join politics”

Urmila Matondkar joined the Congress party and within just two months into politics, the actor is already surrounded by controversies – from being accused of making anti-Hindu comments to inappropriate poll campaigning. Fielded against BJP’s Gopal Shetty in the Mumbai North constituency, Ma

Campaign trail with BJP’s Manoj Kotak

Dressed in white shirt and pants, three time Bhartiya Janta Party (BJP) corporator Manoj Kotak is now contesting from Mumbai north-east constituency. Kotak, representing BJP in the BMC, is ready to rally around Ward 125 in Ghatkopar east area. It’s about 7:30 pm on a hot April e

Modi is now the topic of a PhD thesis

Sunil Bhatt, a Gujarat-based professional, has completed what is possibly the first PhD thesis on prime minister Narendra Modi. The thesis, titled ‘Leadership, Governance and Development: A case study of Shri Narendra Modi’, has been accepted at the Veer Narmad South Gujarat Universit



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter