Ministry of Defence plans to decrease shareholding in Defence Public Sector Undertakings ANI | Updated: Mar 15, 2021 23:21 IST
New Delhi [India], March 15 (ANI): The Ministry of Defence on Monday informed that it is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs). The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, BEML Limited, Garden Reach Shipbuilders and Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI). The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline, read the release by the Ministry.
The policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership, meet the minimum public shareholding norms of SEBI and for ensuring a higher degree of accountability.
Express News Service
NEW DELHI: The government is planning to decrease its shareholding in three Defence Public Sector Undertakings (DPSUs) in the future but timeline for execution of this step is not decided yet.
Shripad Naik, Minister of State (MoS) for Defence on Monday informed, “The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, Bharat Earth Movers Limited (BEML Ltd)., Garden Reach Shipbuilders & Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI).”
As for timeline, Naik said, “The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline.”
Govt collects Rs 26,457 crore by decreasing stakes in six DPSUs in last 5 years
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Govt collects Rs 26,457 crore by decreasing stakes in six DPSUs in last 5 yearsPTI
Last Updated: Mar 15, 2021, 08:09 PM IST
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Synopsis
Minister of State for Defence Shripad Naik said the policy is also aimed at meeting the minimum public shareholding norms of SEBI (Securities and Exchange Board of India) and for ensuring higher degree of accountability.
The minister said the policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership.
The government has collected Rs 26,457 crore by decreasing its shareholding in six defence public sector undertakings (DPSUs) in the last five years, according to details provided by Minister of State for Defence Shripad Naik in Rajya Sabha on Monday.
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