6 IPO, 1 FPO of CPSEs to hit market
DSIJ IntelligenceCategories: DSIJ News, Trending
The Union government plans to list seven public sector enterprises in 2019. The Cabinet Committee has approved a divestment plan wherein 6 state-owned entities will float an initial public offering (IPO), while one already listed company KIOCL will issue a follow-on offer.
The Union government plans to list seven public sector enterprises in 2019. The Cabinet Committee has approved a divestment plan wherein 6 state-owned entities will float an initial public offering (IPO), while one already listed company KIOCL will issue a follow-on offer.
These listings will bring government closer to its divestment target of Rs. 800 billion for FY19. Law Minister Ravi Shankar Prasad announced the names of the seven central public-sector enterprises on Friday at a press conference. He said that the decision will enable these companies to realise their true value.
The seven PSUs that will be listed are as follows:
Telecommunication Consultants India Limited [TCIL]
RailTel Corporation India Limited
National Seed Corporation India Limited (NSC)
Tehri Hydro Development Corporation Limited [THDCIL]
Water & Power Consultancy Services (India) Limited [WAPCOS]
FCI Aravali Gypsum and Minerals (India) Limited [FAGMIL]
Kudremukh Iron Ore Company Limited (KIOCL) is the only listed company and thus will be issue a follow-on public offering (FPO) on Friday, the stock of KIOCL was quoting Rs. 148.50 per share, up by 0.75 per cent.