Govt lists cash-rich PSUs for buyback | business | Hindustan Times
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Govt lists cash-rich PSUs for buyback

business Updated: Nov 06, 2011 22:47 IST

PTI
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The Disinvestment Department has prepared a list of cash-rich PSUs which can buy back government equity and help it meet the ambitious Rs 40,000 crore disinvestment target during the current fiscal.

The government has been thinking of raising funds through the buyback route as it has not been able to raise money through sale of equity in public sector units on account of uncertainty in the stock markets.

"The government is open to raise funds through the buyback route as part of the disinvestment exercise. We are thinking of innovative ways to meet the target," said a concerned official.

Under the buyback mode, the government can raise money by selling its equity in the company to the concerned PSU itself.