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Cabinet approves plan to list 7 state-owned firms on stock exchange

The Cabinet Committee on Economic Affairs has given approval to list seven CPSE on the stock exchange through initial public offer (IPO)/FPO, law minister Ravi Shankar Prasad said while briefing the media.

business Updated: Dec 28, 2018 17:01 IST
Press Trust of India
Press Trust of India
New Delhi
stock exchange,state-owned firms,Cabinet Committee on Economic Affairs
The government Friday said six public sector undertakings, including THDCIL, TCIL and RailTel, will come out with IPOs, while KIOCIL will issue follow on public offer (FPO).(HT PHoto)

The government Friday said six public sector undertakings, including THDCIL, TCIL and RailTel, will come out with IPOs, while KIOCIL will issue follow on public offer (FPO).

The Cabinet Committee on Economic Affairs has given approval to list seven CPSE on the stock exchange through initial public offer (IPO)/FPO, law minister Ravi Shankar Prasad said while briefing the media.

The CCEA in its meeting held on Thursday decided that six PSUs will go in for IPO and one for FPO.

The six firms to come up with IPOs are - Telecommunication Consultants (India) Ltd (TCIL), RailTel Corporation India Ltd, National Seed Corporation India Ltd (NSC), Tehri Hydro Development Corporation Ltd (THDCIL), Water & Power Consultancy Services (India) Ltd (WAPCOS) and FCI Aravali Gypsum and Minerals (India) Ltd (FAGMIL).

While, Kudremukh Iron Ore Company (KIOCL) will come up with FPO.

“Listing will help PSUs to unclock potential and value,” Prasad said.

First Published: Dec 28, 2018 17:01 IST