Updated Dec 22, 2020 | 17:10 IST
Defence PSU BEML, Neelanchal Ispat Nigam Limited, and Railway PSU Concor will be privatised and expression of interest will be put out soon Privatisation drive continues, DIPAM to invite Expression of Interest for BEML, NINL, Concor | Photo Credit: BCCL
New Delhi: The government is gearing for the next set of privatization and could invite expression of interest in three more profitable public sector companies after it set the ball rolling to exit BPCL, Air India and Shipping Corporation, DIPAM Secretary Tuhin Kanta Pandey told ET Now.
Defence PSU BEML, Neelanchal Ispat Nigam Limited, and Railway PSU Concor will be privatised and expression of interest will be put out soon.
IDBI Bank on Monday said it had option to draw Rs 1,500 crore as equity capital from its promoter Life Insurance Corporation of India (LIC). The bank, with LIC and the government of India as its promoter, raised equity capital Rs 1,435 crore through Qualified Institutional Placement (QIP) last week. Rakesh Sharma, MD and CEO, said the shareholding of LIC had come down (fell below 51 per cent), so the bank could take up to Rs 1,500 crore capital from LIC. It will be through preferential allotment. He, however, did not give timeline for capital infusion from LIC. LIC held 51 per cent stake prior to QIP. After QIP, LIC’s stake dipped in expanded capital base, creating room for LIC to infuse more equity to move to 51 per cent level. IDBI Bank stock closed 5.93 per cent down at Rs 38.1 per share on the BSE.