Mumbai: Specialty steel manufacturer, Mukand Ltd’s debt levels will be coming down by more than Rs 1,200 crore as the divestment of up to 51 per cent equity stake held in Mukand Sumi Special Steel (MSSL) to promoter group entities will be completed by next year. “This divestment will be completed in tranches over the […]Read More
KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday. The insurer has collected about Rs 87,300 crore of renewable […]Read More
The India Tourism Development Corporation (ITDC) has divested stakes in nine properties over the past two years including hotels in Bhopal, Jaipur, Guwahati, Itanagar and the Lalitha Mahal Palace in Mysore, and while the Department of Investment and Public Asset Management (DIPAM) has appointed a consultant for The Ashok hotel in Delhi, ITDC will continue […]Read More
The government has raised Rs 770 crore from stake sale of ammunition and missile systems manufacturer Bharat Dynamics Ltd through an offer for sale, which concluded on Wednesday. “BDL OFS concluded today with a total subscription of about 2.34 crore shares worth Rs 770 crore from institutional and retail investors,” secretary of department of investment […]Read More
NEW DELHI: The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. […]Read More
The key is for the Centre to accept that states are at the frontline of this economic battle, and urgently need access to additional resources, not just compensation for inadequate cess collections. Synopsis Markets would see immediately that the risk of default of state governments, with such a large rise in their liabilities, would be […]Read More
New Delhi: The government has identified 18 strategic sectors for disinvestment purposes, including coal, crude oil, power, steel, telecom, atomic energy and defence, allowing three to four PSUs in each space while gradually moving out of all other sectors. The 18 sectors have been classified into three categories, which are mining and exploration, manufacturing and […]Read More
NEW DELHI: GMR Infrastructure is working on disinvestment of non-core assets including land and hopes to yield “significant value” even from 50 per cent of land monetization, according to a document. The airport-to-port conglomerate in an investor presentation said land at strategic industrial locations will benefit from the possible manufacturing dislocation from China. “Plan is […]Read More
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