The decks maybe cleared for the government to auction its stakes in PSUs. SEBI's guidelines for the institutional placement programme is out, but the EGoM is set to meet on the matter today to decide the process of auction.
As per media reports, the attempt is sort of saving face, in the sense that they hope to get at least Rs10000 crore from this investment in this fiscal since they can't meet that Rs40000 crore disinvestment target.
The government has been looking at auctions in ONGC and BHEL for a very long time now. They were waiting for the SEBI guidelines on auctions and institutional placement program, and now that that is in place, the EGoM is set to decide the methodology and the price of the offer at a meet today.
The disinvestment secretary is hopeful that the government will spring into action on ONGC and BHEL.
Final decision on whether ONGC will be an FPO or will it be an auction still has to be taken, but it is for now on the table for an auction. And of course with BHEL, it is likely that it will happen in March.
There is a tough road ahead because once the auction guidelines are in place, they will have to make sure that all requirements are met, the road map will be built and they don't have much time to do that with only about two months left for the fiscal to end.
....more info
As per media reports, the attempt is sort of saving face, in the sense that they hope to get at least Rs10000 crore from this investment in this fiscal since they can't meet that Rs40000 crore disinvestment target.
The government has been looking at auctions in ONGC and BHEL for a very long time now. They were waiting for the SEBI guidelines on auctions and institutional placement program, and now that that is in place, the EGoM is set to decide the methodology and the price of the offer at a meet today.
The disinvestment secretary is hopeful that the government will spring into action on ONGC and BHEL.
Final decision on whether ONGC will be an FPO or will it be an auction still has to be taken, but it is for now on the table for an auction. And of course with BHEL, it is likely that it will happen in March.
There is a tough road ahead because once the auction guidelines are in place, they will have to make sure that all requirements are met, the road map will be built and they don't have much time to do that with only about two months left for the fiscal to end.
....more info