DISINVESTMENT

  • SAIL share sale floor price fixed at Rs 83, may fetch Rs 1700 crore December 4, 2014

    New Delhi: Government's five per cent stake in steel giant SAIL will be sold at a floor price of Rs 83 per share on Friday, which can raise Rs 1,500-1,700 crore for the exchequer in the first disinvestment under the new regime. "Government expects to garner Rs 1,500 crore to Rs...
  • CBI FIR against exdisinvestment secy for selling Rs 150 cr hotel for Rs 7 cr August 28, 2014

    New Delhi: The Central Bureau of Investigation (CBI) has filed an FIR against former disinvestment secretary Pradip Baijal for allegedly selling off a hotel in Udaipur worth Rs 150 crore for Rs 7 crore. The case dates back to 20012002 when Baijal was the disinvestment secretary during Arun Shourie's tenure...
  • Budget 2014: Disinvestment target revised upwards to Rs 58,425 cr July 10, 2014

    New Delhi: Finance Minister Arun Jaitley on Thursday raised the disinvestment target for the current fiscal to Rs 58,425 crore. The target include Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies, as per the Budget document. This...
  • EGoM to decide Engineers India FPO date, price band on Tuesday February 3, 2014

    New Delhi: A ministerial panel on disinvestment will meet on Tuesday to decide on the price band and date for the government's sale of a 10 per cent stake in Engineers India through a followon public offer (FPO). "The EGoM on EIL disinvestment will meet tomorrow to fix the price...
  • PM calls meet to push disinvestment December 2, 2013

    New Delhi: Committed to keep fiscal deficit under check, Prime Minister Manmohan Singh has convened a highlevel meeting on Tuesday to push forward the disinvestment programme with a view to achieve the budgetary target of Rs 40,000 crore in the current fiscal. The meeting, according to sources, will be attended by...
  • NLC disinvestment: DoD asks TN to appoint officer for talks July 8, 2013

    Coimbatore: The Department of Disinvestment (DoD) has asked the Tamil Nadu government to appoint a senior officer to discuss its proposal for buying the Centre's five per cent stake in Neyveli Lignite Corporation with the finance ministry. SEBI has already given its consent to TN government's proposal for the stake...
  • TN: Neyveli Lignite workers to strike against divestment today July 3, 2013

    Chennai: The trade unions of the Neyveli Lignite Corporation will go on an indefinite strike on Wednesday. The indefinite strike has been called to protest the Centre's decision to disinvest a five per cent stake in the company. The All India Anna Dravida Munnetra Kazhagam (AIADMK) on Tuesday organised Statewide...
  • Govt targets Rs 55,814 cr from PSU stake sale February 28, 2013

    New Delhi: Finance Minister P Chidambaram has doubled the disinvestment target for next fiscal to Rs 55,814 crore, from Rs 24,000 crore estimated in the current fiscal. The government had originally set the disinvestment target for current fiscal at Rs 30,000 crore, but as per revised estimates in the Budget...
  • Govt to get over Rs 11,500 cr from NTPC share sale February 7, 2013

    New Delhi: The government on Thursday said it is satisfied with the response to National Thermal Power Corporation (NTPC) share sale and expects to garner more than Rs 11,500 crore from the offer, the biggest disinvestment mop up so far this fiscal. "The government is satisfied with the response to this...
  • NTPC stake sale commences on bourses February 7, 2013

    New Delhi: Shares of National Thermal Power Corporation (NTPC) slid as much as two per cent on the BSE in the early trade on Thursday as the government's 9.5 per cent stake sale of country's largest power producer commenced on the bourses. The floor or the minimum offer price for...
  • Government's Rs 12,000 crore NTPC stake sale on Feb 7 February 6, 2013

    Mumbai: The government expects to raise around Rs 12000 crore by selling a 9.5 per cent stake in state power utility NTPC Ltd in a share auction on February 7, Disinvestment Secretary Ravi Mathur said. The floor price for the offer will be announced on Wednesday, he said. Share sales in state...
  • NTPC's $2 billion share sale likely on Feb 7: Sources January 26, 2013

    Mumbai: India's plan to raise about $2 billion selling a stake in power producer NTPC Ltd will likely take place on February 7, three sources with direct knowledge of the situation said on Friday. The government, which owns 84.5 per cent of NTPC, plans to sell a 9.5 per cent stake...
  • 'Disinvestment target for FY'14 not less than Rs 30k cr' January 23, 2013

    Hong Kong: The government is likely to fix disinvestment target for the next fiscal at not less than Rs 30,000 crore, the target for the current fiscal, Finance Minister P Chidambaram said on Tuesday. "I have not drawn up the size of the next year's programme, but preliminary thoughts, it...
  • Govt begins offloading equity in NTPC November 27, 2012

    New Delhi: The government on Tuesday initiated the process of disinvestment in NTPC by inviting bids from merchant bankers for 9.5 per cent stake sale in the power major, which may fetch the exchequer over Rs 12,000 crore. "Proposals are invited from reputed merchant bankers with experience and expertise in...
  • 'Govt hopeful of achieving Rs 30,000 cr disinvestment target' November 24, 2012

    New Delhi: Encouraged by the success of Hindustan Copper disinvestment, Finance Minister P Chidambaram on Friday exuded confidence that the government would be able to meet the Budget target of raising Rs 30,000 crore from stake sale in public sector undertaking during the current fiscal. "I am happy that issue...
  • Govt clears disinvestment of 10.82 pc stake in SAIL July 19, 2012

    New Delhi: The government on Thursday approved the sale of 10.82 per cent of its stake in Steel Authority of India (SAIL), which may fetch the exchequer over Rs 4,000 crore. The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Manmohan Singh, this evening has cleared SAIL public...
  • FM sets divestment target at Rs 30,000 cr March 16, 2012

    New Delhi: Finance Minister Pranab Mukherjee pegged the divestment target for the next financial year at Rs 30,000 crore, as against Rs 40,000 crore each in 201011 and 201112. Even with the recent auction of Oil and Natural Gas Corporation shares, the government has garnered only Rs 13,911 crore from disinvestment...
  • Rs 12, 766 cr raised in ONGC auction: Pranab March 2, 2012

    Finance minister Pranab Mukherjea said 98.3 per cent of shares on offer were subscribed. ...
  • ONGC stake sale fetches Rs 12,666 cr: Pranab March 1, 2012

    New Delhi: Terming the ONGC stake sale as "a great success", Finance Minister Pranab Mukherjee on Thursday said the government has raised Rs 12,666 crore from auction of its 5 per cent stake in the oil major. "It is a great success...Our latest figure (from auction of ONGC shares) is now...
  • Mystery ends; ONGC auction is through, says govt March 1, 2012

    New Delhi/Mumbai: After some hiccups and a late government intervention, the sale of government's 5 per cent stake in ONGC through an auction finally managed to sail through with an estimated proceeds of about Rs 12,000 crore to partly meet the disinvestment target of current fiscal. Hectic parleys were held for more...
  • ONGC stake sale falls short of expectations March 1, 2012

    Mumbai: The auction for sale of the government's five per cent stake in Oil and Natural Gas Corporation Limited (ONGC) fell short of expectations as bids were received for only 29 crore shares out of the 42 crore on offer. The ONGC auction on Thursday fell short of target and...
  • Government to sell 5 pc ONGC stake on March 1 February 28, 2012

    New Delhi: Running against time to meet the Rs 40,000crore disinvestment target, the Centre on Tuesday decided to offload 5 per cent stake in ONGC through auction route on March 1 at a likely floor price of Rs 290 a share that could fetch the Exchequer about Rs 12,00013,000 crore. "The...
  • News 360: Iran reveals new indigenous uranium centrifuge February 15, 2012

    Iranian President Mahmoud Ahmadinejad, however, said his country's nuclear programme is for peaceful purposes. ...
  • Budget to focus on fiscal consolidation: Montek February 1, 2012

    Mumbai: After cutting the cash reserve ratio by 50 basis points, the governor of the Reserve Bank of India said that it was now the government's turn to take a step towards fiscal consolidations. Speaking exclusively to CNBCTV18 for the first time since the RBI policy announcement on January 24,...
  • Sibal orders probe into disinvestment of VSNL March 22, 2011

    Hitting back at BJP, Sibal orders probe into TataVSNL deal made during the NDA regime. ...
  • Sibal orders probe into disinvestment of VSNL March 22, 2011

    New Delhi: A beleaguered UPA is now raking up dirt on the NDA and opening up a new front to target the Opposition. Telecom Minister Kapil Sibal has questioned the disinvestment of VSNL which took place during the NDA regime. Sibal has ordered a probe into the delay of demerging surplus...
  • Govt to sell stake in Coal India, Hind Copper June 15, 2010

    New Delhi: The cabinet on Tuesday approved stake sales in staterun miners Coal India and Hindustan Copper that between them could be worth up to $ 3.7 billion. The government will sell a 10 per cent stake in Coal India, the world's largest coal miner, through an initial public offering, Home...
  • Govt clears divestment in steel major SAIL April 8, 2010

    New Delhi: The Government on Thursday approved a 20 per cent disinvestment in Steel Authority of India Ltd that would fetch a total of Rs 16,000 crore. Following the twotranche disinvestment, the Government and the company will get Rs 8,000 crore each, Home Minister P Chidambaram said in new Delhi...
  • Govt seeks to cut stake in State Bank to 51 pct March 8, 2010

    New Delhi: The government is seeking legislative approval to sell down its stake in top lender State Bank of India to 51 percent, which could raise about $2.5 billion, a quarter of what the bank needs to grow over the next five years. On Monday, Finance Minister Pranab Mukherjee introduced a...
  • Government to rake in Rs 25,000 cr through divestment February 26, 2010

    New Delhi: Government earnings from selling stakes in public sector enterprises will be an estimated Rs 25,000 crore during the current fiscal. The divestment is targeted to rake in Rs 40,000 crore in the next fiscal. "The government will raise about Rs 25,000 crore during the current year. Through this process,...