Sources said the company was likely to be incorporated with the four government companies holding equity in proportion to their profits, implying that the bigger the profit size, the larger their holding. The combined holding is likely to be in the range of Rs 325 crore (Rs 3.25 billion).
Overcoming resistance from the Left Parties, government on Thursday virtually re-initiated the divestment process by targeting Rs 1500 crore (Rs 15 billion) funds for the National Investment Fund.
Public sector undertakings Bharat Earth Movers (BEML), Rural Electrification Corporation (REC), Power Grid Corporation of India and National Hydroelectric Power Corporation (NHPC), are slated to hit the market with their IPOs.
About 3,500 will get it through off-grid or renewable energy solutions
With disinvestment on hold, the power ministry now seeks approval for initial public offers of power companies.
Four public sector power companies plan to mop up Rs 6,500 crore (Rs 65 billion) through initial public offers in the next three months.
Two years after the Centre's flagship village electrification scheme Saubhagya concluded with the government claiming 99.9 per cent success, several states have added close to 1.1 million rural households that remain to be connected to the electricity grid. This new list includes earlier unwilling households that have now agreed to have a metered connection and also those built or discovered in the states' surveys since 2019. Assam and Uttar Pradesh are the states that have the majority of such new additions.
Around 80 mn rural households are estimated to have no access to grid power.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
Railways, rural infrastructure, urban rejuvenation, solar and transmission and distribution of electricity are the new priorities, says Vinayak Chatterjee.
NDA's energy plan powered UP win, but it's not a winner yet. Centre has claimed to have saved money by targeted coverage but critics say the system is not yet foolproof.
Known for stable returns, near debt-free status and dividend track record, these 10 PSU stocks are worth buying now.
In an interview with Sanjay Jog, REC chairman and managing director P V Ramesh talks of the growth strategy and the company's plan to ride the transformation wave in the power sector.
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
Sebi might come out with a regulatory framework for issuance of 'green' bonds
Budget in the medium term aims to kick-start the investment cycle.
When big offers hit the market, broader indices corrected 2-4%
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
'There are 25 million farmers in India with at least 2 to 3 cows each.' 'If all them use biogas to cook, millions of LPG units and firewood can be saved.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Indian economy about to take-off
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