Government Reaches 60% Of Minority Stake Sale Target In Eight Months
Rs 15,585.6 crore came in through buyback of shares of companies.
The government has mopped up Rs 23,528.73 crore through strategic and minority stake sales in state-owned companies in the first eight months of the fiscal year.
Out of the realised amount, Rs 21,432.38 crore came from minority stake sale in 14 central public sector enterprises, the Department of Investments and Public Asset Management said in a release. Remaining Rs 2,096.35 crore came from the sale of Specified Undertaking of Unit Trust of India's stake in Larsen & Toubro Ltd.
So far, the government has achieved 59.53 percent of the budgeted target of Rs 36,000 crore for minority stake sales. Rs 15,585.6 crore came through buyback of shares of companies including NMDC Ltd. and Coal India Ltd.
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The government raised Rs 5,817.9 crore from offers for sale by companies such as NTPC Ltd., and NBCC India Ltd.
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The department has also created a pipeline of proposals for central public sector enterprises to take advantage of better market condition without any loss of time and has fast tracked the approval process, according to the release.
"Disinvestment programme was made more inclusive by following an approach to reserve 20 percent of shares on PSUs-OFS transactions for retail investors on a case to case basis," the government added.
