India will struggle to raise even half the proceeds it had targeted from planned sales of state-run firms this year and will miss divestment targets for the fifth straight year, sources said, as elections shift...
IDBI divestment unlikely this fiscal
The proposed sale of the government’s stake in IDBI Bank is unlikely to happen this fiscal, two people with direct knowledge of the matter said, posing a challenge to the Centre’s ability to meet the ₹51,000 crore...
Bank of Baroda board approves 49 per cent stake divestment in BFSL
The Bank of Baroda board has approved up to 49 per cent divestment in subsidiary BoB Financial Solutions, the company said in a regulatory filing on Thursday. “We advise that the Board of Directors of Bank of...
Govt plans to invite EoIs for divestment of RINL by Jan-end
The government is planning to invite expressions of interest for the divestment of Rashtriya Ispat Nigam Limited (RINL) and its subsidiary by the end of January 2023. Tata Steel, JSW Steel and Adani Group have shown...
Tamo approves partial divestment possibility in TTL
Tata Motors’ board has accorded in -principle to the company to consider partial divestment of its stake in Tata Technologies, which is due to go public In the current fiscal year (FY23). “…..the IPO...
L&T Finance Holdings completes the divestment of its mutual fund business
L&T Finance Holdings Limited, one of India’s leading non-banking financial companies, today announced the conclusion of the sale of its mutual fund business to HSBC Asset Management (India) Private Limited. It...
Sterlite Technologies climbs 10% after divestment of stake in IDS UK
Shares of Sterlite Technologies rallied up to 10 per cent to Rs 182 in Thursday’s trade after the company sold its stake in Impact Data Solutions, UK (IDS UK) to Hexatronic Group AB. The divestment of the company’s...
PNB to sell its entire stake in ARCIL, plans to complete divestment by Dec-end
Public sector bank (PSB) major, Punjab National Bank(PNB) on Thursday decided to sell its entire stake in Asset Reconstruction Company (India) (ARCIL) at an agreed price. PNB currently holds a 10.01% stake in ARCIL. The...
BPCL divestment not on the table as of now, says oil minister Hardeep Singh Puri
The divestment of Bharat Petroleum Corporation Limited is not on the table as of now, said Minister of Petroleum and Natural Gas Hardeep Singh Puri on Thursday. The Centre earlier in August told Parliament that it will...
No decision on divestment of dialysis unit FMC, Fresenius CEO says
German healthcare group Fresenius said that there has been no decision at all to sell its dialysis business Fresenius Medical Care. If Fresenius decided to sell a stake in the Helios hospital chain it would involve a...
Govt calls off present EOI process for BPCL divestment
Following the multiple waves of COVID-19 and the current geopolitical strife between Russia and Ukraine, the government has called off the present expression of interest (EoI) process for strategic disinvestment of...
With just one bidder left, BPCL divestment scrapped
The government has scrapped the BPCL divestment process as there was just one bidder left in the fray after the two others dropped out due to their inability to tie up funds for the acquisition, said an official...