PSUs may be given sell orders soon
19 Oct 2009, 1005 hrs IST, Anto Antony, ET Bureauseries of public offers from state-run firms could hit the market in the next few months if the Cabinet Committee on Economic Affairs
(CCEA) on Monday accepts disinvestment department’s proposal to offload a minimum 10% stake in all such firms, a senior finance ministry official told ET. The PSUs that could see their first public floats include big ones such as Coal India, Bharat Sanchar Nigam, National Aviation Co and Manganese Ore India and medium-sized players such as RITES, Ircon, HLL Lifecare and NBCC. A bullish market sentiment has also encouraged the disinvestment department to draft a schedule for follow-on public offers (FPO) by listed PSUs. According to the plan, at least one IPO or an FPO will hit the market every month for the next nine months. As a result, REC, NTPC, NMDC, Hindustan Copper, MMTC, Engineers India, Sutluj Jal Vidyut Nigam and RITES are expected to tap the market in the six months starting December.

( Economic Times )