Major Achivements

S.No. Month Achievements
1 November, 2018
  1. The RFP for engagement of Registrar for MSTC IPO has been floated on 1.11.2018. Review meeting for MDL IPO was held on 12.11.2018 in DIPAM. In case of NEEPCO IPO, the Registrar and the Statutory Auditors have been appointed.
  2. The status on buyback of shares: (i) KIOCL buyback of shares offer opened for subscription on 22.10.2018 and closed on 2.11.2018. The Government has received Rs. 205.34 crore approximately from this buyback. (ii) The Board of OIL in its meeting on 19.11.2018 has approved the buyback of shares. The Alternative Mechanism in its meeting held on 19.11.2018 has approved the participation of the Government in the offer of buyback of OIL and the Government is likely to realize Rs. 620 crore (approx) from this buyback. (iii) The Board of NHPC has approved the buyback of shares on 14.11.2018. The Alternative Mechanism has approved the buyback which is likely to fetch Rs. 600 crore.
  3. Status of Strategic Disinvestment: (i) CCEA in its meeting held on 8.11.2018 has given ‘in-principle’ approval on the CGD recommendation on strategic disinvestment of DCIL. Note for CGD to approve SPA and RFP has been submitted to the Cabinet Secretariat on 30.11.2018. (ii) The SPA between Ministry of Health & Family Welfare on behalf of the President of India and the NBCC has been signed on 6.11.2018 in respect of the strategic disinvestment of HSCC Ltd. The Government has received Rs. 285 crore approx. from this transaction. (iii) The Alternative Mechanism in its meeting held on 30.11.2018 has approved the recommendation of the CGD to extend the bidding for strategic disinvestment of Hindustan Prefab Ltd. to private bidders.
  4. The CPSE-ETF FFO was successfully completed during 27-30th November, 2018 and the Government received Rs. 17,000 crore from this transaction and this is the biggest disinvestment transaction through the ETF.
  5. The domestic Road Show for the OFS of the NTPC was conducted on 21st and 22nd of November, 2018 in Mumbai.
  6. The Legal Adviser for the merger & acquisition in the power sector CPSEs has been appointed while the IMG has finalized the selection of Transaction Adviser.
  7. The Union Cabinet has given “in-principle” approval for sale of enemy property shares under the Custodian of Enemy Property of India on 8.11.2018. The decision will lead to monetization of enemy shares that has been lying dormant for decades since coming into force of the Enemy Property Act in 1968. DIPAM will implement this decision and proceeds will be credited under disinvestment.
  • Current Year 2018-19 Target and Achievement

    Sl.No. Financial Year Target (In Rs. Crore) Achievement (In Rs. Crore)
    1. 2018-19 80,000 34,142.35

    Last 7 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)
    7. 2017-18 1,00,000 1,00,056.91


    Budget Announcements and Implementation Status, 2018-19

    Sl.No. Para No. Text of Announcement Status of Implementation
    1. 102 The Government and market regulators have taken necessary measures for development of monetizing vehicles like Infrastructure Investment Trust(InvIT)and Real Investment Trust(ReITs) in India. The Government would initiate monetizing select CPSE assets using InvITs from next year. The Department is preparing a draft Institutional Framework for asset monetisation of CPSEs.
    2. 123 The Government has approved listing of 14 CPSEs, including two insurance companies, on the stock exchanges. The Government has also initiated the process of strategic disinvestment in 24 CPSEs. This includes strategic privatization of Air India. (i) Out of these, ONGC-HPCL deal has been completed during FY 2017-18. Strategic disinvestment process of 23 CPSEs/ units of CPSEs are in different stages of implementation.
    (ii) For Air India, EoI/PIM was issued on 28.03.2018. No bids were received.
    3. 125 The Government introduced Exchange Traded Fund Bharat-22 to raise Rs. 14,500 crore, which was over-subscribed in all segments. DIPAM will come up with more ETF offers including debt ETF. (i) Hon’ble Finance Minister has approved the constitution of Inter Ministerial Group (IMG) for appointment of one Advisor, one Market Maker and one Legal Advisor for creation, launch and implementation of Debt ETF.

    (ii) IMG has approved the Request for Proposal (RFP) for the appointment of Advisor. RFP for appointment of Advisor has been floated for inviting bids from interested parties.

    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. (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

    2. 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

    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