The government may come out with an expression of interest (EOI) for strategic sale in Air India by June, said the secretary for Department of Investment and Public Asset Management (DIPAM), Atanu Chakraborty.
The government has set a disinvestment target of Rs 90,000 crore for FY20. This is “achievable,” said Chakraborty, adding that 10 companies have been lined up for initial public offerings and four more were in the pipeline.
The government would also tap firms that have to meet their minimum public shareholding target of 25%. Chakraborty on Saturday said the government would further look at theme-based exchange trade funds, strategic disinvestment and also raise money through the integration of central public sector enterprises, like the PFC-REC deal.
The government has around 24 firms that it can put up for strategic sale, including Air India. “The EoI for Air India Air Transport Services Ltd should come out by next week. After that is closed, Air India will also come,” he said, adding that this would be possible once the annual general meeting was done, accounts were adopted and audited.
The government is also hopeful of surpassing the fiscal disinvestment target of Rs 80,000 crore. “All transactions are in place,” said Chakraborty, adding that despite liquidity issues in the third quarter of this fiscal year, the government was able to raise Rs 25,000 crore.
