The Finance Ministry has made progress in strategic sale of 28 state-owned companies, of which three have already been sold off in the previous fiscal.
The Department of Investment and Public Asset Management (DIPAM) had raised about Rs85,000 crore from CPSE disinvestment in 2018-19, using a variety of instruments like Initial Public Offers (IPOs), Offer for Sale (OFS), Buyback, Exchange Traded Funds (ETF). This was more than the Rs80,000 crore target set in Budget.
HSCC was acquired by NBCC India at a consideration of Rs285 crore, while DCIL was bought by a consortium of four ports at Rs1,049 crore. Besides, NPCC was acquired by WAPCOS for Rs79.80 crore.