Major Achivements

S.No. Month Achievements
1 September, 2017
  1. The window for subscription of offer of share to employees of National Thermal Power Corporation Ltd. (NTPC) was opened from 11the September, 2017 to 13th September, 2017. The GoI received an amount of Rs. 151 crore (approx) through the employees OFS transaction of NTPC.
  2. As approved by the Alternative Mechanism, the Government participated in the buyback offer of Bharat Dynamics Ltd. (BDL), which was opened on 22nd September, 2017 and 25th September, 2017. The Government received an amount of Rs. 450 crore (approx) through this buyback transaction.
  3. In respect of the strategic divestment, the Core group of Secretaries on disinvestment (CGD) in its meeting held on 13th September, 2017 recommended for seeking approval of Alternative Mechanism, in respect of the expression of interests (EoIs) and Preliminary Information Memorandum (PIM) finalized by the respective Evaluation Committee (EC) for strategic disinvestment of nine (09) CPSEs including Bharat Pumps and Compressors Ltd. (BPCL), Bridge & Roof (B&R) Co. Ltd., Engineering Projects (India) Ltd (EPIL), Projects & Development India Limited (PDIL), National Projects Construction Corporation (NPCC), Hospital Services Consultancy Corporation (HSCC), Bharat Earth Movers Ltd (BEML), Pawan Hans Limited (PHL) and Hindustan Prefab Ltd (HPL). CGD also approved guidance note number 1 on the procedure for strategic disinvestment.
2 August, 2017
  1. As approved by the Alternative Mechanism, the Government participated in the buyback offer of Engineers India Ltd. (EIL), which was opened during the period from 25th July, 2017 to 7th August, 2017. The Government received an amount of Rs. 657.81 crore through this buyback transaction. Post this buyback, GoIs shareholding in the company stands at 54.17 per cent.
  2. The Cochin Shipyard Ltd. (CSL) IPO issue was opened for subscription from 1st August, 2017 to 3rd August, 2017. The issue was subscribed 76.19 times with institutional and retail investors evincing greater interest.The Government realized an amount of Rs. 470.01 crore through this offer.
  3. The OFS issue to disinvest 6.83 per cent paid up equity capital in Hindustan Copper Ltd. (HCL) out of GoIs shareholding was held from 2nd August, 2017 to 3rd August, 2017. An amount of Rs. 404.71 crore has been realized through this OFS transaction.
  4. The second OFS issue of the month to divest 6.65 per cent paid up equity capital in NTPC out of GoIs shareholding was open for subscription from 29th August, 2017 to 30th August, 2017. The Government realised an amount of approx. Rs. 9,118 crore through this transaction.
  • 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).

    19,759.22(As on 04.10.2017)

    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. 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.

    2. 104 The shares of Railway PSEs like IRCTC, IRFC and IRCON will be listed in stock exchanges. Book Running Lead Manager (BRLMs) and Legal Advisors for listing of the three Railway CPSEs – IRFC, IRCON and IRCTC have been

    appointed.

    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.

    The construction of new ETF basket is in the final stage. Advisor for new ETF has been selected. Selection of Legal Advisor is under

    process.

    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. IMG for selection of

    Advisers, Legal Advisers and Asset Valuers have been constituted in DIPAM and the Administrative Departments concerned. In most of the cases Advisors and

    Legal advisors have been appointed.

    2. 89 We will adopt a comprehensive approach for efficient management of Government investment in CPSEs by addressing issues such as capital

    restructuring, dividend, bonus shares, etc. The Department of Disinvestment is being re-named as the “Department of Investment and Public Asset

    Management (DIPAM)”.

    (i) The Department has been renamed as Department of Investment and Public Asset Management (DIPAM) in line with focus of the

    Government on management of its investment in Central Public Sector Enterprises (CPSEs) for accelerating economic development as well as augmenting

    Government resources for higher expenditure.

    (ii) To ensure efficient management of GoI's investment in CPSEs, the Guidelines on "Capital Restructuring of CPSEs" have been issued on 27th May, 2016

    which supersedes all previously issued guidelines by various Ministries/Departments.