These 6 government companies are going to be sold soon, know who are in the list

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These 6 government companies are going to be sold soon, know who are in the list

New DelhiModi government plans to sell 6 more government companies in this financial year. Apart from BPCL, these include BEML, Shipping Corp, Pawan Hans, Central Electronic and Neelanchal Ispat. The process of privatization of BPCL is going on. Also, the financial bidding of BEML, Shipping Corp, Pawan Hans, Central Electronic and Neelanchal Ispat can be done in December-January. The process of their privatization is also likely to be completed in this financial year. This was stated by Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) recently. With this, the wait for the much-awaited IPO of the country’s largest insurance company LIC is also about to end. The company’s IPO can knock in the market between January and March in the fourth quarter of the current financial year. The government is going to sell up to 10 percent stake in LIC. From this he is expected to get Rs 10 lakh crore.

Finance Minister Nirmala Sitharaman had announced the sale of stake in LIC in last year’s budget speech, but its process was affected due to the Corona pandemic. If the government sells 5 per cent stake in LIC, it will be the biggest ever IPO in the country. Selling 10 per cent stake would make it the second largest IPO by an insurance company in the world. The government is also selling 52.98% stake in BPCL. For this, three companies have shown interest to the government. In this, Vedanta has made a bid of Rs 59 thousand crores. Apart from this, Apollo Global Management and I Squared Capital have also shown interest in this. But they are finding it difficult to find a global partner for this. The government had recently decided to sell Air India to the Tata Group.

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Stake sale in Hindustan Zinc cleared
Along with this, the government has also got the green signal to sell its remaining stake in Hindustan Zinc Limited (HZL). The Center had first sold 24.08 per cent stake in Hindustan Zinc in 1991-92. In April 2002, the Vajpayee government sold 26 per cent stake in the company to Stellite for Rs 445 crore. The company then increased its stake in Hindustan Zinc to 64.92 per cent. In 2012, the central government had decided to sell its 29.54 per cent stake in the company. But it was banned by the Supreme Court due to financial irregularities in the 2002 deal. In December last year, the government had restarted the process of selling the helicopter company to Pawan Hans. In this, the government holds 51 percent and ONGC has 49 percent. Even before this, the government has tried to sell it many times but it did not succeed. The central government has set a disinvestment target of Rs 1.75 lakh crore in this financial year. So far, the government has raised Rs 9,330 crore by selling minority stake in PSUs and SUUTI stake in Axis Bank.

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