DIPAM

More in DIPAM

• India government must set moderate divestment targets, says DIPAM secretary

  The Indian government has set a 650 billion rupee ($7.89 billion) divestment and privatisation target for 2022/23, out of which it raised 245.44 billion rupees in the first seven months of the fiscal year. Last fiscal year, the government raised just over 135 billion rupees ($1.6 billion) from the sale of stakes in state-owned firms, a fraction of its target of 1.75 trillion rupees and missing its divestment goal for a third straight year.

  

• Union government, LIC to divest over 60 per cent stake in IDBI Bank

  Expressions of Interest (EoIs) from likely bidders will be invited on October 7, said the Department of Investment and Public Asset Management (DIPAM). The Centre has decided to divest 30.48 per cent stake, meanwhile, Life Insurance Corporation of India (LIC) will divest 30.24 per cent in the bank. Currently, LIC holds 49.24% stake while the GoI holds 45.48% in IDBI Bank.

  

• Govt to put ground handling and engineering units of Air India on sale soon

  The Department of Investment and Public Asset Management (DIPAM) started conducting roadshows with prospective buyers for AI Airport Services Private Limited (AIASL) and AI Engineering Services Limited (AIESL) last week to gauge bidders’ interest. Consultancy firm EY is the transaction advisor for the process.

  

• India cuts railway land licensing fee, clears decks to privatise Concor

  It is expected that this decision will speed up the sale of the Centre's stake in Container Corporation of India. Wednesday's development is believed to be in line with NITI Aayog's recommendation to keep the railway land leasing fee for containers below 3%.

  

• Govt likely to include corporate houses in IDBI privatisation process

  The government is yet to discuss several issues concerning the potential buyers and is working on it. The framework being created by the government for IDBI’s privatisation might be used for the privatisation of two other nationalised banks.

  

• Govt calls off present EOI process for BPCL divestment

  The majority of qualified interested parties (QIPs) expressed their inability to continue with the current process due to the prevailing conditions in the global energy market, DIPAM said in a notification.

  

• Railway land use policy may be tweaked for Concor selloff

  The move is expected to facilitate strategic divestment of government-owned Container Corporation of India Ltd (Concor) by making the deal more lucrative for players.

  

• IDBI Bank privatisation process on; decision on quantum of dilution after roadshow: DIPAM Secy

  The Cabinet Committee on Economic Affairs had given in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank in May last year. Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021, and transaction advisors have been appointed. IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, following the acquisition of an additional 8,27,590,885 equity shares.

  

• Several privatisation transactions in an advanced stage, says DIPAM Secretary

  According to him, the department is getting ready with the EoIs for Bharat Petroleum Corporation (BPCL), Bharat Earth Movers Limited (BEML), Shipping Corporation of India (SCI), certain units of SAIL and steel plant of National Mineral Development Corporation (NMDC). He said three important companies, Railtel, IRFC and Mazagaon Dock were listed last year during COVID.

  

• LIC IPO: Investment bankers advice Centre against a hurried launch

  The group of ministers tasked with decisions relating to strategic disinvestment is expected to soon consider the pricing of LIC's initial public offer (IPO), people with knowledge of developments told ET. A decision on the timing of the offer is likely to be taken after considering all inputs, they said.

  

• PM Modi to address global investors on privatisation, asset monetisation on Wednesday

  Global sovereign funds, private equity, global pension funds, investment banks, asset monetisation companies especially real estate, infrastructure, and legal experts along with other stakeholders from North America, Europe, Middle East, Asia and Far East, and Australia would also participate.