Indian Government is looking to sell up to 25% stake in four state-owned companies under the control of the defence department via an initial public offering (IPO).
The government is considering selling stakes in Mazagon Dock, Bharat Dynamics, Garden Reach Shipbuilders & Engineers and Mishra Dhatu Nigam.
The government has been divesting its stake in several public and private companies in order to meet its ambitious target to generate funds of approx Rs 7,250 crore during FY18.
In FY17, the government has raised Rs 46,247 crore via disinvestment, the highest amount ever earned by the sale of equity stakes in PSUs.
Recently, the government has reduces stakes in many public sector companies including Hindustan Copper, Cochin Shipyard, HUDCO, L&T (held through SUUTI) and Dredging Corporation. Read More…