Major Achievements Archives

S.No. Month Achievements
1 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.
2 January, 2018
  1. As approved by the Alternative Mechanism in its meeting held on 20th January, 2018, the deal for transferring GoI's shareholding of 51.11 percent equity in HPCL to ONGC was successfully concluded for a consideration amount of Rs. 36,915 crore. Through this acquisition, ONGC will become India's vertically integrated oil major company, having presence across the entire value chain. The integrated entity will have advantage of having enhanced capacity to bear higher risks, take higher investment decisions and neutralizing the impact of volatility of global crude oil price.
  2. With this conclusion of this transaction, the Government has so far realized approx. Rs. 92,500 crore, the highest ever mobilization during 2017-18 and far exceeding the target. The Government expects this to reach Rs. 1 lac crore and the Department will move ahead in a prudent manner to achieve the revised target.
  3. The OFS issue to disinvest GoI's shareholding of 2.52 per cent paid up capital in National Mineral Development Corporation Ltd. (NMDC) was held from 9th January, 2018 to 10th January, 2018. An amount of Rs. 1223 crore has been realized through this OFS transaction.
  4. The Alternative Mechanism (AM) in its meeting held on 12th January, 2018 approved the filing of DRHP with SEBI as well as recommendations of HLC for divesting GoI's shareholding of 10 per cent and 17.5 per cent in the proposed IPO issue of Mishra Dhatu Nigam Ltd. (MDL) and Garden Reach Shipbuilders and Engineers Ltd. (GRSE) respectively.
3 December, 2017
  1. As approved by the Alternative Mechanism, the Government participated in 5 buyback offers of Mazagaon Dock Ltd. (MDL), IRCON International Ltd. (IRCON), Hindustan Aeronautics Ltd. (HAL), Garden Reach Shipbuilders & Engineers Ltd. (GRSE) and HSCC (India) Ltd during the month and realized Rs. 253.48 crore, Rs. 190.59 crore, Rs. 921.50 crore, Rs. 77.63 crore and Rs. 49.55 crore respectively through these buyback transactions.
  2. The High Level Committee and Alternative Mechanism meetings for IPO of Bharat Dynamics Ltd. (BDL) and Mishra Dhatu Nigam Ltd. ( MIDHANI) were held on 11th&12th December, 2017 respectively. The Alternative Mechanism considered the recommendations of High Level Committee and approved the quantum of disinvestment and DRHP for listing of BDL and MIDHANI.
4 November, 2017
  1. During the month, the IPO of New India Assurance Company Ltd. was opened for subscription from 1st November - 3rd November, 2017 and successfully concluded, with the Government realizing approx. Rs.7,653 crore through this public issue.
  2. The window for subscription of offer of shares to employees of National Aluminium Company Ltd. (NALCO) was opened from 1-9 November, 2017. The GoI received an amount of Rs.50.51 crore from the employees-OFS of NALCO.
  3. The Government also participated in the buyback offer of Mazgaon Dock Ltd. (MDL), which was opened between 28th November, 2017 and 4th December, 2017. The Government is likely to realize approximately Rs.253 crore from this transaction.
  4. The New Fund Offer of Exchange Traded Fund (ETF), named as BHARAT 22 ETF, comprising 22 diversified stocks was opened for subscription between 14-17 November, 2017. The offer received an overwhelming response from all segments of investors, such as, anchor investors, retirement funds, retail investors and others, i.e., QIB/HNI. While the anchor segment was oversubscribed by 6 times, the total book for the offer was oversubscribed by over 4 times. Inflows under the FIIs category to the issue were to the tune of approx. US$ 1.5 billion (Rs. 10,000 crore). In order to satisfy the demand from large number of investors, especially from the retail and the retirement fund category the Government decided to retain a portion of the oversubscription by increasing the issue size of the offer to Rs. 14,500 crore.
5 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).
6 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.
7 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.
8 July, 2017
  1. Pursuant to the announcement made in the Budget on creation of an integrated public sector oil major, the CCEA in its meeting held on 19th July, 2017 has given an in-principle approval to consider strategic sale of the Government of Indias existing 51.11 per cent of total paid-up equity shareholding in Hindustan Petroleum Corporation Limited (HPCL) to Oil and Natural Gas Corporation Limited (ONGC) along-with transfer of management control.
  2. The IPO issue of Cochin Shipyard Ltd. (CSL) was opened for subscription on 1st to 3rd August, 2017 with a price band of Rs. 424 to 432 per share of face value of Rs.10. The Government is expected to realise Rs. 480 crore through this issue.
  3. The OFS issue to disinvest 15 per cent paid up capital in National Fertilizers Ltd. (NFL) out of GoIs shareholding was held from 26.07.2017 to 27.07.2017. An amount of Rs. 530.72 crore has been realized through this OFS transaction.
9 June, 2017
  1. As a part of the initiative to divest SUUTIs holdings, shares of L&T Ltd. amounting to 2.59 per cent of the equity capital of the company were sold on 21st June, 2017. The Government realised an amount of Rs. 4153.65 crore (approx.) through this transaction. Subsequently, the OFS issue to disinvest 5 per cent paid up capital in Rashtriya Chemicals & Fertilizers Ltd. (RCFL) out of GoIs shareholding was completed on 30th June, 2017. The Government realized an amount of Rs. 205.15 crore through this OFS transaction.
  2. As approved by the Alternative Mechanism, the Government also participated in the buyback offer of Oil India Limited (OIL), which was opened between 23rd May, 2017 and 5th June, 2017. The Government received an amount of Rs. 1135.25 crore through this buyback transaction. Post this buyback, GoIs shareholding in the company stands at 66.13 per cent.
10 May, 2017
  1. Listing of HUDCO on the Stock Exchanges through the public issue marked the launch of first CPSE-IPO since April 2012. The IPO which was opened for the public from 8th - 11th May, 2017 received an un-precedent response from the investors across the board and overall, the issue got oversubscribed by more than 79 times. The IPO received more than 20 lakh applications, which is the highest number of applications received in an IPO in recent times. Overall, bids worth Rs. 97,000 crore were received for an issue size of Rs. 1,200 crore. The issue received highest employees participation as well.