11 CPSEs set for launching an IPO
Sanket Dewarkar / 13 Apr 2017
The Cabinet Committee on Economic Affairs (CCEA) has given its approval for listing 11 CPSEs (Central Public Sector Enterprises) on stock exchanges.
The Cabinet Committee on Economic Affairs (CCEA) has given its approval for listing 11 CPSEs (Central Public Sector Enterprises) on stock exchanges.
The government plans to divest upto 25 per cent of its shareholding in these PSUs via initial public offerings (IPOs). This may include sale of fresh shares in the companies to raise resources from the market, which are expected to hit market in 2017-18, and includes 5 PSUs under the Railway Ministry and 4 Defence companies.
Under the Railway Ministry the PSUs which are getting launched for initial public offer (IPO) are Rail Vikas Nigam Ltd., IRCON International Ltd., Indian Railway Finance Corporation (IRFC) Ltd., Indian Railway Catering and Tourism Corporation (IRCTC) and RiTES Ltd.
Whereas, the Defence Ministry's PSUs to be listed on the Exchange are Bharat Dynamics Ltd.,Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders Ltd., and Mishra Dhatu Nigam Ltd.
North Eastern Electric Power Corporation (NEEPCO) and MSTC have also got an approval to get listed on the bourses.
A discount of 5 per cent has been approved by the Finance minister on the issue price of the stocks for small investors and eligible employees of 11 CPSEs to ensure their wider participation.
With merchant bankers to manage the sale, the government has already started the process of listing IRCTC, IRFC and IRCON.
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