Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey has informed at a webinar organized by the Merchants Chamber of Commerce and Industry (MCCI), that several privatization transactions of government majority stake sale were now in an advanced stage and Expressions of Interest (EoI) will be invited soon.
Pandey added that the government has recently privatised successfully two organisations, Air India and Neelachal Ispat Nigam Limited (NINL) to strategic partners. He said that the share purchase agreement (SPA) got the approval of the Cabinet on 9th March, 2022.
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.
Further, regarding the mega-IPO of LIC, Pandey said the DRHP has been filed already. “We are watching the market conditions due to the Russia-Ukraine conflict. Hopefully, the IPO will be brought to the market soon and it will be a great opportunity for the Indian capital market”.