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Home Banking & Finance

Govt approves 14 CPSEs for listing

Fiinews by Fiinews
March 10, 2018
in Banking & Finance, Investment
Reading Time: 1 min read
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Floating profitable CPSEs to unlock value

The Government has approved listing of 14 Centre-owned Public Sectro Enterprises (CPSEs) under disinvestment policy, said P. Radhakrishnan, Minister of State for Finance in written to Parliament on 9 Mar 2018.

These are in sectors like railways, defence, power, steel, renewable energy & insurance.

The listing of profitable CPSEs on stock exchanges to unlock the value of the company, would help improve efficiency and promote “people’s ownership” by encouraging public participation in CPSEs.

The disinvestment, through “minority stake sale” in listed CPSEs, to achieve minimum public shareholding norms of 25 per cent.

While pursuing divestment through “minority stake sale”, the Government will retain majority shareholding of at least 51% and management control of the Public Sector Undertakings (PSU).

There is also option for strategic disinvestment by way of sale of substantial portion of Government shareholding in identified CPSEs upto 50 per cent or more, along with transfer of management control. fii-news.com

Tags: Ministry of Finance
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