Dipam

Govt kickstarts IREDA 's IPO process, scouts for merchant bankers

The government is planning to come out with an initial share sale offer for up to 25 per cent stake in Indian Renewable Energy Development Agency (IREDA) and is looking for merchant bankers to manage the process. The Department of Investment and Public Asset Management (DIPAM) on Monday invited bids from category-I Sebi registered merchant bankers; either singly or as a consortium, with experience and expertise in public offerings in capital market; to act as Book Running Lead Manager (BRLM) and to assist and advise the Government/IREDA in the process. The BRLM would advise the Government/IREDA on the timing and the modalities of the Initial Public Offer (IPO), undertake due diligence, advice on regulatory norms and conduct roadshows to generate investor interest. The government will appoint up to three merchant bankers and the last date to submit bids is April 28. Indian Renewable Energy Development Agency Ltd (IREDA) is under the administrative control of the Ministry of New and

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

IDBI Bank privatisation on track as per strategic sale process: DIPAM

The government on Friday said the disinvestment of IDBI Bank is on track as per the defined strategic sale process. Debunking media reports which indicated a possibility of deferment of IDBI Bank disinvestment, the Department of Investment and Public Asset Management (DIPAM) said the stake sale is in the post-EoI stage. "The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," DIPAM Secretary Tuhin Kanta Pandey tweeted. The government and the LIC are together selling about 61 per cent stake in IDBI Bank and had in January received multiple Expressions of Interest (EoIs) for the same. DIPAM, which manages government holding in state-owned enterprises, in October last year invited EoIs for selling a 30.48 per cent stake in IDBI Bank, along with LIC's 30.24 per cent stake in the bank. The government and LIC together hold a 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic ...

Dipam calls for key meeting on Wednesday to mull Concor divestment

Sources say officials from Railways, Concor, Niti Aayog, finance and law ministries expected to take final call on pending issues regarding transfer of land to private player post disinvestment

Govt made Rs 31,106 cr in FY23 through disinvestment, reports DIPAM

The sale of 3.5 per cent of its stake in the LIC through an IPO brought the govt Rs 20,516.12 crore as receipts

IREDA, WAPCOS to hit capital markets next fiscal: DIPAM Secy Tuhin Pandey

The government is targeting to launch the initial public offering (IPO) of clean energy lender IREDA and state-owned engineering consultancy firm WAPCOS in the next fiscal, DIPAM Secretary Tuhin Kanta Pandey said. The proceeds from the stake sales would form part of the Budgeted disinvestment kitty of Rs 51,000 crore for the next fiscal. "IREDA is lined up for Initial public offering (IPO) next fiscal. DRHP for WAPCOS has already been filed," Pandey told PTI. The Department of Investment and Public Asset Management (DIPAM) manages government equity holding in public sector companies. WAPCOS, an engineering consultancy and construction services firm under the Jal Shakti Ministry, had in September last year filed draft papers with market regulator Sebi for launching an IPO by selling 3.25 crore shares held by the government. The company's revenue from operations stood at Rs 2,798 crore, while net profit was Rs 69.16 crore in 2021-22. The IPO of the Indian Renewable Energy Developme

FY24 disinvestment target pragmatic, but challenging: Dipam Secy Pandey

'Privatisation processes are BMMP (bandwidth, market available, minority shareholders, and the process)', said Tuhin Kanta Pandey

Budget 2023-24: Asset sale target pegged at Rs 51,000 crore for FY24

Current year projection slashed to Rs 50,000 cr from Rs 65,000 cr

OMCs likely to see a short-term bounce-back on improved Q3 showing

Given the concerns around biz, though, a full turnaround is unlikely anytime soon

Financial bids for IDBI Bank expected to come in by Sept: DIPAM Secy

The government is expecting to get financial bids for IDBI Bank's strategic sale by September, DIPAM Secretary Tuhin Kanta Pandey said. Several global and domestic institutions have expressed interest in buying about 61 per cent of the government and Life Insurance Corporation's (LIC) stake in IDBI Bank and had put in preliminary bids, the last date of which was January 7. Overall, we are looking at financial bids at least before second half (October-March) of next fiscal year, Pandey told PTI in an interview. The Department of Investment and Public Asset Management (DIPAM), which manages government holding in state-owned enterprises, had in October invited bids for selling 30.48 per cent stake in IDBI Bank, along with 30.24 per cent stake of LIC. The government and LIC together hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale. Talking about the way forward in the strategic sale, Pandey said the work on two set of clearances ...

FY24 disinvestment target to be around Rs 60K-cr, big ticket deals unlikely

The government's decision to not list any new entity for privatisation may be because of the prevailing market conditions

IDBI Bank gets domestic, global bids for stake sale, says Dipam secy

On Saturday, the government said it got multiple bids for the majority stake in IDBI Bank

IDBI Bank stake sale: Suitors may have to place financial bids by March

Shortlisted bidders would be asked for Financial bids By March

Dipam seeks to make dividends from PSUs part of disinvestment target

The government is half way against the disinvestment target of Rs 65,000 crore for the current fiscal year

BSNL waiting for NLMC to prepare land asset monetisation strategy

All land properties nominally valued above Rs 100 crore being monetised by NLMC, but it has been slow to formulate a plan; DoT will handle assets of lower value

DIPAM extends last date for submission of EoI for IDBI stake sale

Consortium of foreign funds, investment companies will be allowed to own over 51% of IDBI Bank

Govt working out transaction structure of RINL strategic sale: Dipam Secy

The government is working out the transaction structure for the strategic sale of RINL or Vizag Steel, DIPAM Secretary Tuhin Kanta Pandey said on Friday. The Cabinet Committee on Economic Affairs had in January 2021 given in-principle approval for 100 per cent strategic disinvestment of the government shareholding in Rashtriya Ispat Nigam Limited (RINL) -- also called Visakhapatnam Steel Plant or Vizag Steel -- along with RINL's stake in its subsidiaries/joint ventures. "The in-principle approval is there. We are going forward in working out the transaction structure," the Department of Investment and Public Asset Management Secretary said at the CII Global Economic Policy Summit. Department of Investment and Public Asset Management (DIPAM), which manages the government's equity in public sector companies, earlier in March floated the request for proposal (RFP) for appointing an asset valuer registered with the Insolvency and Bankruptcy Board of India (IBBI) to carry out the valuati

Govt hopes to meet Rs 65,000 cr FY23 disinvestment goal via offer for sale

DIPAM has so far raised Rs 62,000 crore including dividends of Rs 34,000 crore, says Tuhin Kanta Pandey

Concor stake sale: Inter-ministerial group expected to clear EOI today

Based on Concor's current market cap of Rs 46,674.9 crore, a 30.8 per cent stake in the company is valued around Rs 14,376 crore

Strong interest: DIPAM receives as many as 167 queries about IDBI sale

9-10 serious bidders seek clarity on the expression of interest