State-run entities BPCL Air India selloff to slip into Financial year 22

Tapasvi Vibhute
·1-min read

The union might not be able to shut the BPCL and Air India disinvestment transactions by 31st March. Although it’s pushing the sale of five huge state-run entities for which it sought interest from potential buyers.

Along with BEML and Shipping Corporation, four large public sector companies have been put on the block. And concor is to be offered for sale as soon as the Railway can decide on the agreement. A proposal for the land use policy, a key to concor disinvestment, is pending for cabinet approval. This means that the government will close another year without a significant strategic sale.

Against a target of 1.2 lakh crore, the centre has so far mopped up 13,844 crores with the sale of some shares held by SUUTI, along with a few issues and buyback of shares expected to generate another 13,000 crores during the remaining 12 weeks of the financial year.

Also, LIC stake sale through the initial public offer route will remain incomplete this year as the parliament needs to amend the law.

Similarly, a final call on IDBI bank stake is yet to be taken.

Dipam Secretary Tuhin Kanta Pandey had indicated that the Bharat Petroleum sale may go through this year.

In a matter of BEML, the Centre has decided to sell a 26% stake out of its shareholding of 54% along with management control.

Businesses, limited liability partnership firms and funds, eligible to invest in India can participate, provided their net worth is Rs 1,400 crore.