IDBI Stake Sale on Track: Government Nears Target Amid High Hopes
DIPAM Secretary Arunish Chawla expressed optimism about completing the IDBI stake sale this fiscal, as due diligence by qualified bidders nears completion. He highlighted successful asset monetisation efforts and cautious planning for LIC stake sales. The government seeks to meet its financial targets for the current year.
- Country:
- India
DIPAM Secretary Arunish Chawla expressed optimism at a recent industry conference regarding the government's progress on the IDBI stake sale, noting that the due diligence from qualified bidders is nearly complete.
Chawla reported that the government collected Rs 20,000 crore in the first quarter, making substantial headway towards the Rs 47,000 crore asset monetisation target for the fiscal year. He underscored the collaborative efforts of DIPAM, merchant bankers, and LIC in furthering the stake sale strategy for LIC, ensuring it aligns with market liquidity considerations.
Chawla refrained from speculating on figures, stressing that expert merchant bankers are handling transactions. The completion of these efforts by the end of the fiscal year is anticipated, coinciding with last year's record dividend achievements by DIPAM, which they aim to maintain or surpass.
(With inputs from agencies.)
Google News