Major Achivements

S.No. Month Achievements
1 October, 2017
  1. The window for subscription of offer of share to employees of Hindustan Copper Ltd. (HCL) was opened from 10th October, 2017 to 18th October, 2017. The GoI received an amount of Rs.0.36 crore from the employees OFS of HCL.
  2. During the month, the IPO of General Insurance Corporation was opened for subscription from 11th October -13th October and successfully concluded with the Government realizing approx. Rs. 9685 crore through this public issue.
  3. The OFS issue to disinvest 5 per cent paid up capital in Neyveli Lignite Corporation (NLC) out of GoIs shareholding was also held on 25th & 26th October, 2017 and the Government realized an amount of Rs.722.29 crore through this transaction. Post this divestment, the GoIs shareholding in NLC has come down from 89.32 per cent to 84.32 per cent.
  4. In respect of strategic divestment, the Alternative Mechanism (AM) in its meeting held on 5th October, 2017 gave approval for the strategic divestment of 8 CPSEs. The Administrative Ministries/Departments have also been authorized to modify the proposed EoI and Preliminary Information Memorandum (PIM) in the light of the recommendations of the CGD and publish the same through the transaction advisor (TA).
  • Current Year 2017-18 Target and Achievement so far

    Sl.No. Financial Year Target (In Rs. Crore) Achievement (In Rs. Crore)
    1. 2017-18 72,500.00 (including Rs.46,500 crore as disinvestment of CPSEs, Rs.15,000 crore from strategic disinvestment and Rs.11,000 crore from

    listing of Insurance Companies).

    52,389.86(As on 04.12.2017)

    Last 6 years Targets and Achievements

    Sl.No. Financial Year Target (In Rs. Crore) Achievement (In Rs. Crore)
    1. 2011-12 40,000.00 13,894
    2. 2012-13 30,000.00 23,957
    3. 2013-14 40,000.00 15,819
    4. 2014-15 43,425.00 24,349
    5. 2015-16 41,000.00 (excluding strategic disinvestment of Rs. 28,500 crore) 23,997
    6. 2016-17 56,500 (including Rs. 36,000 crore as disinvestment of CPSEs and Rs. 20,500 crore from strategic disinvestment) 46,246.58 (including Rs. 35,467.87 crore from disinvestment of CPSEs and Rs. 10,778.71 crore from disinvestment of strategic holdings and

    income from management
    of SUUTI investment)


    Budget Announcements and Implementation Status, 2017-18

    Sl.No. Para No. Text of Announcement Status of Implementation
    1. 104 The shares of Railway PSEs like IRCTC, IRFC and IRCON will be listed in stock exchanges. IRCON
    (i) BRLMSs/LAs/Auditor/Registrar have been appointed.
    (ii) Due diligence by BRLMs and the CPSE in progress.
    (iii) Audited accounts for F.Y. 2016-17 under completion.
    (iv) Buy back is at final stage.

    IRCTC
    (i) BRLMSs/LAs/Auditor/Registrar have been appointed.
    (ii) Due diligence by BRLMs and the CPSE in progress.
    (iii) Drafting session of DRHP has started.
    (iv) Procedure for appointment of Ad Agency is in Progress.

    IRFC
    (i) BRLMSs/LAs/Auditor/Registrar have been appointed
    (ii) Due diligence by BRLMs and the CPSE in progress.

    2. 106 Our ETF, comprising shares of ten CPSEs, has received overwhelming response in the recent Further Fund Offering (FFO). We will continue
    to use ETF as a vehicle for further disinvestment of shares. Accordingly, a new ETF with diversified CPSE stocks and other Government holdings will be launched
    in 2017-18.
    After the launch Bharat 22 ETF index, the draft Scheme Information Document (SID) has been filed with SEBI on 25.09.2017.
    After the SEBI approval, NFO would be launched after factoring in the resource requirement of Government and market conditions.

    Budget Announcements and Implementation Status, 2016-17


    Sl.No. Para No. Text of Announcement Status of Implementation
    1. 88 A new Policy for management of Government investment in Public Sector Enterprises, including disinvestment and strategic sale has been approved. We have to leverage the assets of CPSEs for generation of resources for investment in new projects. We will encourage CPSEs to divest individual assets like land, manufacturing units, etc. to release their asset value for making investment in new projects. The NITI Aayog will identify the CPSEs for strategic sale. (i) Detailed instructions/circulars on the procedure and mechanism for strategic disinvestment have been issued on 29th February, 2016 to all Ministries/Departments concerned, including NITI Aayog.

    (ii) Based on the report of the NITI Aayog and the recommendations of CGD, the CCEA in its meeting held on 27th October, 2016, has approved, ‘in-principle’ the proposal for strategic disinvestment of some CPSEs, units of CPSEs and subsidiaries of CPSEs.

    (iii) Administrative Ministries have been requested to initiate the process of strategic disinvestment of the CPSEs for which 'in-principle' approval has been accorded by CCEA.

    (iv) For the purpose of uniformity and efficient implementation of strategic disinvestment transactions, the 'flow of activities' to be completed within a specified time in respect of disinvestment of Government equity as well as disinvestment of equity of parent CPSE subsidiary,
    and sale of units of CPSEs has been prepared and communicated to the concerned Administrative Ministries/Departments for completion of the activities within the specified timeline.

    (v) The process of strategic disinvestment of the CPSEs has been initiated as per the procedure and mechanism approved by CCEA.

    (vi) The Transaction Advisors, Legal advisors and Asset valuers have been appointed in almost all cases of strategic disinvestment and steps are being taken to take the process forward.

    (vii) The Alternative mechanism (AM) in its meeting held on 5th October, 2017 considered the Note dated 4th October, 2017 of the Department of Investment and Public Asset Management (DIPAM) containing recommendations of CGD in respect of EoI finalised by EC in context of strategic disinvestment of nine (09) CPSEs. AM has approved the EoI for eight (08) CPSEs. The Departments/ Ministries have been asked to publish the EoI after incorporating the changes as per the approval.