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FinMin to hire external monitors to oversee disinvestment

Last Updated: Monday, March 24, 2014, 20:58

In order to ensure transparency in the disinvestment process, Finance Ministry has decided to appoint retired bureaucrats and prominent private sector executives as independent monitors to oversee working of merchant bankers and others associated with PSU stake sale.

Axis Bank falls on govt's Rs 5,700 crore stake sale offer

Last Updated: Friday, March 21, 2014, 10:39

Shares of Axis Bank Ltd fell after the government launched an offer to sell up to a 9 percent stake held through SUUTI in India`s third-largest private-sector bank by assets to raise up to Rs 5,700 crore.

Govt receives over Rs 8,500 cr from Axis Bank stake sale, ETF

Last Updated: Friday, March 21, 2014, 08:41

Encouraging response from investors has helped the government raise over Rs 8,500 crore through CPSE ETF and Axis Bank share sale.

Axis Bank stake sale Friday, price band at Rs 1290-1357/share

Last Updated: Thursday, March 20, 2014, 19:10

Government will sell less than half of its stake held through SUUTI in the country's third largest private sector lender Axis Bank on Friday through a block deal for upto Rs 5,700 crore.

L&T Finance slumps on share-sale price discount

Last Updated: Friday, March 14, 2014, 10:52

L&T Finance Holdings shares fell as much as 6.01 percent after the non-banking financial company set a floor price for its stake sale at Rs 70 per share, or an 11.5 percent discount to its Thursday closing price.

ONGC, Oil India to buy Indian Oil stake at Rs 220 per share

Last Updated: Thursday, March 06, 2014, 13:23

Oil Minister M Veerappa Moily had on February 28 confirmed the sale would will happen at 10 percent discount.

Govt clears IOC, BHEL stake sale; to get over Rs 7,300 cr

Last Updated: Friday, February 28, 2014, 20:26

The decision to go ahead with stake sale of 10 percent in IOC and 5 percent in BHEL was taken by the Empowered Group of Ministers on disinvestment, headed by Finance Minister P Chidambaram.

Oil India board approves Indian Oil stake purchase

Last Updated: Tuesday, February 25, 2014, 19:16

The board of state-owned Oil India Ltd (OIL) has approved the acquisition of a 5 percent stake in Indian Oil Corp (IOC) from the government at a discount to the market price.

HCL denies report Nadar plans to sell $10 bn stake

Last Updated: Friday, February 21, 2014, 14:09

HCL Corp, the holding company for HCL Technologies, denied a Wall Street Journal report that said its founder Shiv Nadar was seeking potential buyers for his USD 10 billion stake in the company.

MCX plans to sell stake in group firms

Last Updated: Friday, February 21, 2014, 00:24

MCX has invited applications from merchant bankers to advise on the stake sale.

Govt misses disinvestment target for fourth consecutive year

Last Updated: Tuesday, February 18, 2014, 15:01

In 2010-11 and 2011-12 fiscals, the government had raised Rs 22,144 crore and Rs 13,894 crore through disinvestment, against the budgeted target of Rs 40,000 crore in each year.

Government raises Rs 500 cr selling EIL shares at Rs 150 each

Last Updated: Thursday, February 13, 2014, 18:45

The government on Thursday fixed the issue price for the sale of a stake in Engineers India Ltd (EIL) at Rs 150 a share, the upper end of the price band, garnering Rs 500 crore for the exchequer.