Divestment

'Inability to build commercial aircraft one of India's biggest failings'

Civil Aviation Secretary Rajiv Bansal called India's inability to manufacture commercial aircraft a "huge pain point"

Hindustan Aeronautics tumbles 6% on pricing OFS at discount

The government will be offloading 3.5 per cent stake in HAL through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023.

Shipping Corporation soars 10% on govt's approval to demerger plan

The Ministry of Corporate Affairs has approved the revised demerger plan of Shipping Corporation of India, wherein Rs 1,000 crore will be transferred to the non-core assets

As deadline ends, Centre gets multiple bids for majority stake in IDBI bank

The government, which owns 45.48% of IDBI Bank, is looking to divest a 30.48% stake in the lender

Consolidation of PSBs gives a robust base to scale: Bankers at BFSI Summit

Have better underwriting, risk magt to manage high credit growth

Railway ministry might miss FY23 asset monetisation target by 85%

U-turn on station development major cause behind botched FY23 monetisation

Maersk, JSW and Essar Ports join the race for divestment of Concor

The latest development comes at a time when reports indicate that Maersk is planning to double its warehousing presence in India in the next one year

How is centre faring on its non-tax revenues, divestment targets in FY23

The total non-tax revenue target for the year is Rs 2.69 trillion, while that for disinvestment is Rs 65,000 crore

Quess Corp to sell its stake in Simpliance Technologies for Rs 120 crore

Aparajitha, a Human Resource compliance service firm from Madurai, Tamil Nadu, along with its affiliates would take over a 53 per cent stake in Simpliance from Quess Corp.

WAPCOS files IPO papers with Sebi as govt sets new divestment targets

Public sector firm WAPCOS Ltd has filed preliminary papers with capital markets regulator Sebi to float an Initial Public Offering. The public issue will be a complete Offer For Sale (OFS) of up to 32,500,000 equity shares by the promoter, Government of India, according to the Draft Red Herring Prospectus (DRHP). WAPCOS provides consultancy, and engineering, procurement and construction services in the field of water, power and infrastructure sectors. It comes under the Ministry of Jal Shakti. The company also provides its services abroad, particularly in South Asia and across Africa in the fields of dam and reservoir engineering, irrigation and flood control. It has ongoing projects in 30 countries and has been associated with over 455 overseas projects, both completed and ongoing, as per DRHP. The company's revenue from operations increased 11.35 per cent to Rs 2,798 crore in the financial year 2022 while profit after tax rose 14.47 per cent to Rs 69.16 crore during the same ...

Lack of clarity on new policy likely to cap further upside for Concor

The positive for the stock is that the new policy lifts the LLF overhang, clearing the way for divestment

Tencent targets $14.5 bn in divestments of listed equity portfolio: Report

Food-delivery service Meituan is among the assets that are in the pipeline for divestment, the paper reported.

GMR Group to divest 30% stake in Indonesia's PT GEMS for $420 mn

Infrastructure conglomerate GMR Group will divest 30 per cent stake in Indonesia-based bituminous coal mining firm PT Golden Energy Mines (PT GEMS) for USD 420 million (around Rs 3,360 crore), according to a regulatory filing. The divestment will give thrust to GMR's non-airport business through reduction of leverage and give a platform for the growth of its clean energy initiatives. GMR Coal Resources Pte Ltd (GCRPL), a step-down subsidiary of GMR Power and Urban Infra Ltd (GPUIL), has signed definitive pacts to offload the 30 per cent stake it holds in PT GEMS to PT Radhika Jananta Raya, an arm of PT ABM Investama Tbk (ABM), following a competitive bidding process, the filing said. GPUIL -- a subsidiary of GMR Enterprises (GEPL) -- holds expertise in the energy, urban infrastructure and transportation sectors. GCRPL will receive a gross consideration of USD 420 million on closure, GPUIL said in a filing to BSE, adding it will also get a deferred consideration based on mutually .

Sanofi may underperform in near term; pricing control among key risks

The decline was largely on account of divestment of its nutraceutical business and a few key brands.

CDC Group sells 3.56% stake in IIFL Finance for Rs 453 cr via open market

CDC Group Plc, the development finance institution owned by the UK government, on Friday divested a 3.56 per cent stake in IIFL Finance Ltd for Rs 453 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), CDC Group Plc sold 1,35,01,587 shares of the company. The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore. Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company. As of the June quarter, CDC Group plc, which is one of the public shareholders of IIFL Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed. Shares of IIFL Finance closed 5.62 per cent lower at Rs 331.50 on NSE.

Divestment push: RBI allows IDBI Bank bidders to own more than 40%

Govt and LIC look to sell 51-74% stake in the lender through strategic disinvestment

For the Modi government disinvestment hasn't been about earning money

The Modi government has earned twice as much from disinvestment as all previous governments combined have since 1991

Divestment not to shut down PSEs but prime them up: FM Sitharaman

So far in the current fiscal year, the government has mopped up over Rs 24,000 crore from CPSE disinvestment

Centre looks to build divestment capacity in govt departments, PSUs

DIPAM calls for in-house capabilities for analysis and decisions regarding divestment-related measures

Bata India's promoter divests 2.56% stake, sells shares worth Rs 613 cr

The shares were picked by a clutch of domestic mutual funds, foreign investors and an insurance company