Page 5 - Dipam

Centre to relax lock-in period for sale of NINL assets to one year

The condition for the sale would be subject to the sale proceeds being utilised for the company within three years

Four CPSEs pay Rs 5,155 crore dividend to govt: DIPAM Secretary

The government has received Rs 5,155 crore as dividend tranches from four CPSEs, DIPAM Secretary Tuhin Kanta Pandey said on Monday.

Non-core asset monetisation: Govt invites bids to sell 6 BSNL, MTNL assets

Non-core asset monetisation commences with the first set of six properties of BSNL/ MTNL bid out on the MSTC portal, tweets DIPAM Secretary

Market wrap: Sensex falls for a second day; Nifty ends below 17,900

Cabinet approves Rs 6,466-crore fund for telecom infra; LIC IPO expected by Q4, says DIPAM secretary; Go Fashion IPO sails through on first day

No tie-up with airlines for govt staff after Air India-Tata deal

The government is not mandating travel by any particular airline, going forward, after handing over Air India because there won't be any state-owned airline, said DIPAM secretary

Facing backlash, Ministry of Railways scraps IRCTC fee sharing order

Stock tanked 30% intraday before it recovered from losses

Must consider shareholder interests: DIPAM secretary Tuhin Kanta Pandey

'DIPAM has been advising ministries to carefully evaluate any policy changes which play a larger part in the functioning of PSUs', said Pandey

FinMin to seek Cabinet nod to set up firm to monetise some CPSE land assets

A special purpose vehicle (SPV) in the form of a company would be set up to hold these assets which would be monetised to fetch value to the exchequer: DIPAM Secy

Govt gets financial bids for Central Electronics after Air India deal

The govt seeks to disinvest its 100% shareholding in the PSU, buyer to observe three-year lock in

Concor strategic sale not happening this fiscal: DIPAM Secretary

For Concor, the post privatisation rail land usage policy is yet to be finalised by the Ministry of Railways and hence the EoI could not be issued.

Ground-handling arm of Air India to be monetised first: DIPAM Secy

In a Q&A, Tuhin Kanta Pandey says govt has started initial investor outreach for the LIC IPO, and investment bankers are working on a strategy

DIPAM likely to decide on commercial matters for PSU privatisation

The panel headed by the cabinet secretary is yet to decide whether DIPAM can be empowered to take decisions on pricing matters for PSU privatisation

Tatas have liberty to refer new balance sheet to CAG-approved CA: TK Pandey

DIPAM Secretary says rescue missions such as Vande Bharat are on a cost recovery basis. Air India One has been transferred to the Indian Air Force. This will also be on a cost recovery basis

LIC IPO: Govt may not need to amend any law to permit foreign participation

Foreign participation would be allowed as per the listing norms of the Securities and Exchange Board of India (SEBI) and the extant sectoral FDI guidelines

Govt quashes report of Tata Group emerging as winning bidder for Air India

The clarification came in the wake of Bloomberg reporting Tata Sons has been selected as the winning bidder for the debt-laden state-run airline

Govt seeks to empanel merchant bankers, legal advisors for share sales

Appointment will be for two years, extendable for one year; contenders can quote a fee as low as Re 1, must submit bids by October 20

DIPAM shortlists Cyril Amarchand Mangaldas as legal advisor for LIC IPO

The government aims to come out with the IPO and subsequent listing of Life Insurance Corporation on the bourses in the January-March quarter of 2022

LIC IPO: Govt amends fee structure for legal advisors after failed attempt

DIPAM introduces "milestone payments" in RFP; the legal advisors were earlier supposed to get their fee "after successful and satisfactory completion of the transaction"

India, UK agree to be ambitious on services deal in FTA negotiations

Pointing out that services make up 71% of UK's GDP and 54% of India's, the statement released after India-UK dialogue said both countries recognise importance of services in their economies

Govt to sell up to 25% stake in National Seeds Corp; seeks advisors for IPO

Govt is also looking to appoint up to two merchant bankers who would have handled OFS of at least Rs 1,000 crore, and an IPO of Rs 500 crore in the past three years