<p>The government is drawing up a plan to meet the Securities and Exchange Board of India's (Sebi) proposed norm to hike the public holding in all listed public sector companies to minimum 25 per cent in three years.<br /><br /></p>.<p>As part of the plan, the centre is likely to divest 15 per cent stake each in State Trading Corp Ltd and Fertilisers and Chemicals Travancore Ltd, and 5 per cent in MOIL Ltd in the current financial year ending March, an official said.<br /><br />The government is also planning to divest another 5-10 per cent stake in MMTC Ltd.“An action plan is being prepared to divest stake in companies to meet the new Sebi norms," the official said.<br /><br />This is in addition to the plan to divest stake in blue chip companies like Coal India Ltd, Oil and Natural Gas Corp Ltd, NHPC Ltd, Power Finance Corp Ltd, Rural Electrification Corp and Steel Authority of India Ltd in 2014-15.<br /><br />The SEBI board had last month recommended to the government to amend the Securities Contracts (Regulation) Rules to make it mandatory for all listed companies including government-owned companies to have minimum public shareholding of 25 per cent within three years. <br /><br />At present, the government holds 90 per cent in State Trading Corp, MMTC and Fertilisers and Chemicals Travancore, and 80 per cent stake in MOIL.</p>
<p>The government is drawing up a plan to meet the Securities and Exchange Board of India's (Sebi) proposed norm to hike the public holding in all listed public sector companies to minimum 25 per cent in three years.<br /><br /></p>.<p>As part of the plan, the centre is likely to divest 15 per cent stake each in State Trading Corp Ltd and Fertilisers and Chemicals Travancore Ltd, and 5 per cent in MOIL Ltd in the current financial year ending March, an official said.<br /><br />The government is also planning to divest another 5-10 per cent stake in MMTC Ltd.“An action plan is being prepared to divest stake in companies to meet the new Sebi norms," the official said.<br /><br />This is in addition to the plan to divest stake in blue chip companies like Coal India Ltd, Oil and Natural Gas Corp Ltd, NHPC Ltd, Power Finance Corp Ltd, Rural Electrification Corp and Steel Authority of India Ltd in 2014-15.<br /><br />The SEBI board had last month recommended to the government to amend the Securities Contracts (Regulation) Rules to make it mandatory for all listed companies including government-owned companies to have minimum public shareholding of 25 per cent within three years. <br /><br />At present, the government holds 90 per cent in State Trading Corp, MMTC and Fertilisers and Chemicals Travancore, and 80 per cent stake in MOIL.</p>
