The government on Friday said it is targeting to raise Rs 18,000 crore (Rs 180 bilion) through the 20 per cent share sale in the country's largest steel-maker SAIL.
After the government scaled up the power capacity addition target in the current Plan period multi-fold, NTPC embarked upon a major diversification drive in the entire energy chain.
Public sector Bank of Maharashtra has sought government approval to raise Rs 1,500 crore in three years.
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
The government on Friday said it is expecting to raise about Rs 8,100 crore (Rs 81 billion) from the five per cent stake sale in power PSU NTPC through a Follow-on Public Offer (FPO).
Operators in this unofficial market are offering an upfront sum of anywhere between Rs 5,300 and Rs 6,000 to retail investors, who will get shares in the offer at a 5 per cent discount to the issue price.
To boost fund raising from markets, Sebi on Thursday proposed e-IPO norms where investors can bid for shares through Internet and eventually on mobiles, while already listed PSUs will be provided a 'fast-track' route for share sales to meet the disinvestment targets.
All these were done on the basis of forged papers.
The government is keen to divest stake in PSU firms .
The government's holding in the bank will not decline below 58 per cent pursuant to the QIP.
When big offers hit the market, broader indices corrected 2-4%
The move will help increase participation of retail investors, providing momentum to the primary market.
USISPF slammed government's move and alleged that the amendments announced were without any consultation and are akin to changing rules in the middle of the game.
As much as 9 crore shares will be sold over two days, with institutional investors getting to bid on the first day and retail ones getting a chance on Friday.
Punjab National Bank is the second largest PSU bank, in which government holding is 58.87 per cent.
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
Sebi's suggestions are good but investors should not become overconfident.
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CIL aims to sell 12.6 mn shares to retail investors
State Bank of India is also expected to tap the markets this year
An alternative way is to make the Asba (Applications supported by blocked amount) facility compulsory for retail investors.
Move aimed at avoiding crowding of public issues during the Centre's mega disinvestments in coming months.
In the last two months, these stocks have lost nearly a quarter of their market cap.
In the last two months, these stocks have lost nearly a quarter of their market cap.
The rupee resumed higher at 61.75 as against the last closing level of 62.05 per dollar at the Interbank Foreign Exchange (Forex) Market and firmed up further to a one-month high of 61.53 before quoting at 61.59 per dollar at 1045 hours.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
Financial numbers can sometimes paint a rosy picture because of changes in the accounting policy or a one-time income.
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