“Yes, all five of them (disinvestment) will happen this fiscal itself,” Secretary,Department of Disinvestment, Sumit Bose, told reporters on the sidelines of a function to announce the Follow-on Public Offering (FPO) of Engineers India, here on Monday.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam. The most interesting aspect of the disinvestment will be that of Manganese Ore India where the Centre will divest 10 per cent stake along with five per cent each from two other shareholders—the state governments of Maharashtra and Madhya Pradesh, Bose said.
He also exuded confidence that the department will be able to achieve its target of raising Rs 40,000-crore from the divestment proceeds in the current fiscal. Bose hinted that Coal India would be the first amongst the five companies to hit the market and added that Power Finance Corporation was not on the list of companies.
Published 26 July 2010, 16:07 IST