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31
December 2018
 |
Govt
(The Total Investment & Insurance Solutions)
The Cabinet Committee on Economic Affairs has approved the listing of
six Central Public Sector Enterprises (CPSE) on stock exchange through initial
public offering (IPO) and one Public Sector Undertaking (PSU) to issue
follow-on public offer (FPO). The Total
Investment & Insurance Solutions
"Seven PSUs of the government of India
will be listed on the National Stock Exchange through the IPO/ FPO route to
unlock their potential to enhance their value and encourage investor
participation," Union Minister Ravi Shankar Prasad said on Friday. The Total Investment & Insurance
Solutions
The seven PSUs are Telecommunication
Consultants (India) Ltd, RailTel Corporation India Ltd, National Seed
Corporation India Ltd, Tehri Hydro Development Corporation Ltd, Water and Power
Consultancy Services (India) Ltd, FCI Aravali Gypsum and Minerals (India) Ltd,
and Kudremukh Iron Ore Company Ltd (KIOCL). The Total Investment & Insurance Solutions
All PSUs will be listed through the IPO route
except KIOCL, which will come out with an FPO. The Total Investment & Insurance Solutions
"The Cabinet has taken a very effective
step towards reforms. Trade in shares of PSUs will help find its correct value.
This is a new start," Prasad said.
Further, the Cabinet has empowered
Alternative Mechanism comprising Finance Minister, Minister of Road Transport
& Shipping and the minister of concerned administrative ministry to decide
on extent, mode of disinvestment, pricing, time, etc of the listed CPSEs. The Total Investment & Insurance
Solutions
Besides, the scope of eligibility criteria
for listing of CPSEs has been expanded. CPSEs with positive net worth and net
profit in any of the immediately three preceding financial years will be
eligible for listing on the stock exchange, an official statement said.
In Union Budget 2018-19, Finance Minister
Arun Jaitley had proposed the divestment target for the current fiscal to be Rs
80,000 crore. He had also said the government plans to list 14 CPSEs, including
two insurance companies, on the stock exchanges.The Total Investment & Insurance Solutions
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