Disinvestment proceeds touch Rs 53,558 crore

The government’s disinvestment proceeds have touched Rs 53,558 crore so far in the current fiscal, as against the full year budget target of Rs 80,000 crore. Last week, as much as Rs 10,000 crore came in from Bharat-22 ETF and, another Rs 5,379 crore from the sale of Specified Undertaking of Unit Trust of India (SUUTI) stake in Axis Bank.

The government has sold as much as 3 percent stake in Axis Bank held via SUUTI through an offer for sale (OFS) and raised about Rs 5,300 crore.

Besides, the additional offering or Bharat-22 Exchange Traded Fund (ETF) garnered about Rs 10,000 crore to the exchequer.

The issue got bids worth Rs 49,528 crore, with foreign investors pouring in Rs 38,000 crore and retail buyers Rs 2,000 crore.

Share buyback by Indian Oil corporation (IOC) fetched Rs 2,647 crore to the disinvestment kitty, while BHEL, NHPC and Cochin Shipyard garnered Rs 992 crore, Rs 398 crore and Rs 137 crore, respectively.

NLC share buyback garnered Rs 990 crore, while NALCO and KIOCL got Rs 260 crore and Rs 205 crore, respectively.

Besides, strategic disinvestment of HSCC fetched Rs 285 crore.

OFS of Coal India earned Rs 5,218 crore while sale of units of CPSE ETF garnered Rs 17,000 crore. Besides, sale of Bharat-22 ETF has fetched Rs 8,325 crore in June 2018.

The intial public offer (IPO) of PSUs— RITES, IRCON, MIDHANI and Garden Reach Shipbuilders, fetched over Rs 1,700 crore.

The government has fixed disinvestment target of Rs 80,000 crore for the current fiscal ending March. For next fiscal, the target has been set at Rs 90,000 crore.

[“source=moneycontrol”]