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A slew of PSU stake sales coming

business Updated: Nov 04, 2010 22:35 IST
HT Correspondent
HT Correspondent
Hindustan Times
CIL

The big-bang debut of Coal India Ltd’s (CIL) public offer is expected to give a boost to government’s disinvestment programme ahead of a packed calendar as a slew of public issues of state-owned enterprises are set to the hit the capital market over the next five months.

The follow-on public offer (FPO) of energy transmission company Power Grid Corporation of India is set to hit capital markets on November 9, to be followed by a 10% divestment of government stake in Manganese Ore India via an IPO.

The government has also approved sale of 10% equity in Shipping Corporation of India. The biggest domestic shipping company would also raise 10% additional equity to fund its expansion plans.

“The time line is yet to be fixed. But these (SCI and MOIL) IPO will most likely happen in December,” an official said requesting anonymity. These are likely to be followed by public offers of Hindustan Copper and Steel Authority of India Limited.

“The possibility of an FPO in Indian Oil Corporation cannot be ruled out in the second week of January,” said the official.