Economy News Details
The government on Tuesday said that it would come out with Initial Public Offer (IPO) of NHPC Ltd and Oil India by divesting its stake in these companies in the current fiscal. But on the other hand, it has deferred public issue of RITES Ltd. Along with this, the government also approved disinvestment of the two loss-making companies - Tyre Corporation of India Ltd (TCIL) as well as Central Inland Water Transport Corporation Ltd (CIWTC), Finance Minister Pranab Mukherjee told Rajya Sabha in a written reply.
"The public offerings of NHPC Ltd and Oil India Ltd are likely to be completed in the current financial year. The public offering of RITES Ltd has been deferred for the present by the company due to change in capital requirements of the company," he said.
The government decided to disinvest a small portion of the government's equity in these companies in conjunction with their public offerings, the Finance Minister added.
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