Seven companies up for listing

The Cabinet Committee on Economic Affairs has approved seven Central Public Sector Enterprises (CPSE) on the Stock Exchange through Initial Public Offering (IPO)/Further Public Offer (FPO).

These are:

Telecommunication Consultants (India) Ltd (TCIL) – IPO;
RailTel Corporation India Ltd – IPO;
National Seed Corporation India Ltd (NSC) – IPO;
Tehri Hydro Development Corporation Limited (THDC) – IPO;
Water & Power Consultancy Services (India) Limited (WAPCOS Ltd) – IPO;
FCI Aravali Gypsum and Minerals (India) Limited (FAGMIL)- IPO;
Kudremukh Iron Ore Company Limited (KIOCL) – FPO.

The listing of CPSEs on the exchange will unlock their value and encourage investor participation in the CPSEs.

Further, Alternative Mechanism comprising of the Finance Minister, Minister of Road Transport & Shipping and the Minster of concerned administrative ministry has been empowered to decide on extent, mode of disinvestment, pricing, time etc of listed CPSEs (including CPSEs to be listed in future).

The scope of eligibility criteria for listing of CPSEs has been expanded.

CPSEs with positive net worth and net profit in any of the immediately three preceding financial years shall be eligible for listing on the Stock Exchange. The approval was announced on 28 Dec 2018. fiinews.com