The initial public offering (IPO) of India’s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government’s divestment calendar that includes...
Govt to invite EoIs for strategic divestment of Container Corporation by month end
The government is likely to seek expression of interest for strategic divestment of Container Corporation of India by end of the month, as it pushes forward with its disinvestment drive in the ongoing financial year...
Govt divestment in 2020 drops 37% on covid blow
The coronavirus pandemic dealt a blow to the Union government’s plan to raise funds through major stake sales and initial public offerings. The government managed to raise just ₹42,871.94 crore so far this year, down...
Dull response to BPCL sale may derail divestment goal
Investors are not showing much interest in the sale of the government’s 53% stake in Bharat Petroleum Corp. Ltd (BPCL), which is expected to fetch the Centre around ₹45,000 crore. The privatization process could thus...
SBI board clears divestment of over 8.5% stake in UTI Trustee Company
State Bank of India (SBI) on Tuesday said its board of directors has approved to divest over 8.5 per cent in UTI Trustee Company. “The executive committee of the central board of directors of State Bank of India...
Brazil’s Petrobras says major divestments nearing finish line
Petrobras is in the advanced stages of several major divestments, executives said on Thursday, indicating that the company’s ambitious deleveraging program may quicken after a pause during the worst of the coronavirus...
Tata Power looks to use preference share, divestment proceeds to cut debt
After its decision to merge the Mundra subsidiary with itself, Tata Power looks to use preference share and divestment proceeds of Rs 4,000 crore to reduce the unit’s debt. In an investor presentation on Tuesday, Tata...
Tata Power eyes Rs 3,000-crore divestment, revamp of green assets to cut debt
Tata Power Company hopes to raise about Rs 3,000 crore from the divestment of non-core operations and restructuring the renewable energy business with an aim to cut debt by at around 40% this financial year. The...
Bharat Petroleum divestment process begins amid coronavirus lockdown
Despite the Covid-19 lockdown, the central government is keeping the ball rolling for divestment of its stake in Bharat Petroleum Corporation (BPCL). The Assam government has given a no-objection certificate (NOC) for...
Air India cancels divestment of its ground-handling arm
As the government proceeds towards its plan to divest stake in Air India, it has cancelled the proposed divestment of Air India Transport Services Limited (AIATSL), the profitmaking ground-handling subsidiary. Sources...
Divestment to help both LIC, government: Jayant Sinha
BJP MP and former union finance minister Jayant Sinha on Sunday said disinvestment of the Life Insurance Corporation as proposed in the Union budget would be beneficial for both the central government and the LIC. The...
Air India divestment process finally takes off, with sweetened deal terms
Almost two years after a failed attempt, the government on Monday launched the biggest privatisation exercise in value terms, inviting preliminary bids for Air India with sweetened deal terms. Full management control...