Major Achivements

S.No. Month Achievements
1 March, 2018
  1. During the month, the Initial Public Offerings (IPOs) of Bharat Dynamics Ltd (BDL)., Hindustan Aeronautics Ltd. (HAL) and Mishra Dhatu Nigam Ltd. (MIDHANI) were opened for public subscription between 13-15 March, 2018, 16-20 March, 2018 and 21-23 March, 2018 respectively. The Government has realized Rs. 950.35 crore, Rs. 4054.66 crore and Rs. 434.14 crore from the public issues of BDL, HAL and MIDHANI respectively.
  2. The Government also participated in three buyback offers of Manganese Ore (India) Ltd., Bharat Electronics Ltd. and Satluj Jal Vidyut Nigam Ltd. and realized approx. Rs. 130.85 crore, Rs. 217.76 crore and Rs. 558.68 crore respectively through these transactions.
  3. The budget estimate (BE) for disinvestment during the year 2017-18 was Rs. 72,500 crore which was subsequently revised to Rs. 1,00,000 crore. This was the highest ever disinvestment target and far exceeded Rs. 46,247 crore achieved during the year 2016-17. As a result of efficient investment management in CPSEs, the Government has realized approx. Rs. 1,00,057 crore through 36 transactions during the FY 2017-18 against Revised Estimate of Rs. 1,00,000 crore.
2 February, 2018
  1. As approved by the Alternative Mechanism in its meeting held on 4th January, 2018, the Government participated in buyback offer of Antrix Corporation Limited during the month and realized Rs. 238.92 crore through this transaction.
  2. The High Level Committee (HLC) and Alternative Mechanism (AM) meetings for Initial Public Offers (IPOs) of Bharat Dynamics Limited (BDL) and Hindustan Aeronautics Limited (HAL) were held on 28 February, 2018. The AM considered the recommendations of HLC and approved price band, discount and other offer related matters. The IPOs for BDL and HAL will be opened for subscription from 13-15 March, 2018 and 16-20 March, 2018 respectively.
  • Current Year 2017-18 Target and Achievement

    Sl.No. Financial Year Target (In Rs. Crore) Achievement (In Rs. Crore)
    1. 2017-18 Rs. 1,00,000 crore 1,00,056.91 (As on 28.03.2018)

    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. 103 Listing of Public Sector enterprises will foster greater public accountability and unlock the true value of these companies. The Government will put in place a revised mechanism and procedure to ensure time bound listing of identified CPSEs on stock exchanges. The disinvestment policy announced by me in the last budget will continue. As announced in the Budget, 2017-18, the government has put in place a mechanism/procedure along-with indicative timelines for listing of CPSEs on 17.02.2017. The Administrative Ministries/ Departments have been requested to follow the suggested timelines and to complete time-bound listing of identified CPSEs, as per the extant Acts, Rules and Regulations.

    Implemented

    2. 104 The shares of Railway PSEs like IRCTC, IRFC and IRCON will be listed in stock exchanges. (i) Intermediaries like Book running Lead Managers, Legal Advisors, Registrars and Auditors have been appointed.
    (ii) Due diligence by BRLMs and the CPSEs is in progress.

    Under Implementation

    3. 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. (i) As announced in the budget 2017-18, the New Fund Offer (NFO) of BHARAT 22 was opened for subscription from November14, 2017. It was oversubscribed in all segments of investors, such as, anchor investors, retirement funds, retail investors and others, i.e. QIB/HNI. Over 3.30 lac applications were received from investors.

    (ii) While the anchor segment was oversubscribed by 6 times, the total book for the offer was approximately 4 times oversubscribed. Inflows under the FIIs category to the issue were over US$ 1.5 bn (Rs. 10,000 crore).

    (iii) In order to satisfy the demand from large number of investors, especially from the retail and the retirement fund category the Government has decided to retain a portion of the oversubscription by increasing the issue size of the offer to Rs. 14,500 crore.

    Implemented

    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) CCEA has approved procedure and mechanism for strategic disinvestment of CPSEs and mandates of different agencies involved in Strategic Disinvestment.

    (ii) The recommendation of NITI Aayog on Strategic Disinvestment of the CPSEs has been considered by the Government. The CCEA has accorded ‘in principle’ approval for strategic disinvestment of 24 CPSEs/ Units of CPSEs / Subsidiaries on the basis of recommendation of NITI Aayog. These are at various stages of implementation.

    (iii) The process of strategic divestment is in progress. Expression of Interests (EoIs) for strategic divestment has been invited in 7 cases, namely, Hindustan Prefab Ltd (HPL), Engineering Projects India Ltd. (EPIL), Hospital Services Consultancy Corporation (HSCC), National Project Construction Corporation (NPCC), Project and Development India (PDIL), Bridge & Roof Company India Ltd and Pawan Hans Ltd (PHL).

    (iv) The CPSEs expressing interest in acquisition of PDIL, HSCC, EPIL & HPL have been approved to undertake due diligence and submit their financial bids.

    Under Implementation