Friday, December 28, 2018

Cabinet approves listing of certain unlisted CPSEs on Stock Exchange

Posted by Government Staff on 6:46 PM. ,, - No comments

Ministry of Finance
Cabinet approves listing of certain unlisted CPSEs on Stock Exchange
28 DEC 2018
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to list the following seven Central Public Sector Enterprises (CPSE) on the Stock Exchange through Initial Public Offering (IPO) /Further Public Offer (FPO):
  • Telecommunication Consultants (India) Ltd.[TCIL]- IPO
  • RailTel Corporation India Ltd. - IPO
  • National Seed Corporation India Ltd. (NSC) - IPO
  • Tehri Hydro Development Corporation Limited (THDC) - IPO
  • Water & Power Consultancy Services (India) Limited [WAPCOS Ltd.] - IPO
  • FCI Aravali Gypsum and Minerals (India) Limited [FAGMIL]- IPO
  • Kudremukh Iron Ore Company Limited (KIOCL) - FPO

The listing of CPSEs on the exchange shall unlock their value and encourage investor participation in the CPSEs. Further, Alternative Mechanism comprising of the Finance Minister, Minister of Road Transport & Shipping and the Minster of concerned administrative ministry has been empowered to decide on extent, mode of disinvestment, pricing, time etc. of listed CPSEs (including CPSEs to be listed in future).

The scope of eligibility criteria for listing of CPSEs has been expanded. CPSEs with positive net worth and net profit in any of the immediately three preceding financial years shall be eligible for listing on the Stock Exchange

PIB

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