After Air India, now the government’s focus on disinvestment of BPCL, LIC’s IPO will come in the fourth quarter

Government has also received financial bids for strategic disinvestment of CEL

After the successful completion of the Air India disinvestment process, the government’s focus is now on disinvestment of Bharat Petroleum Corporation Limited (BPCL) in the current financial year. Apart from this, the government will also bring an IPO of Life Insurance Company (LIC) in the last quarter of the current financial year.

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said, “LIC’s IPO is a major big event. We are preparing hard for it and hope to bring it by the last quarter of the year. Will be.”

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Pandey said the government is also looking at disinvestment of BPCL in the fourth quarter. DIPAM’s secretary said, “The due diligence process of BPCL is on. It is a very big company. So there is a lot of due diligence work going on there and we hope to complete it soon.”

Pandey said that we have also received financial bids for the strategic disinvestment of Central Electronics Limited (CEL), which could be the next company to be disinvested. “We have received the financial bids and the process is now in the final stage. We are yet to know what the offers are or whether these offers will be enough for us to disinvest. It is still in the envelope,” he said. is closed.”

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Explain that the central government has set a target of raising Rs 1.75 lakh crore through disinvestment for this financial year. The Secretary of DIPAM said that he is hopeful that the government will achieve this target in this financial year.

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