The government has mopped up Rs 32,835 crore from CPSE share sale and buybacks, thus exceeding the disinvestment target set in the revised estimates (RE) for current fiscal.
The realisation is, however, lower than the record Rs 2.10 lakh crore originally budgeted. In the RE, the target was scaled down to Rs 32,000 crore as COVID-19 pandemic delayed planned big ticket disinvestments.
The seven OFS transactions, which include selling its stake in Tata Communications Ltd (erstwhile VSNL), has cumulatively netted Rs 22,973 crore to the exchequer in the current fiscal.
By way of tendering its shares in share buybacks by seven CPSEs, the government has garnered Rs 3,936 crore this fiscal which ends on March 31.
Besides, Rs 3,125 crore has accrued by selling stakes in companies held via SUUTI.
While the country‘s largest insurer LIC’s IPO is in the pipeline for next fiscal, privatisation of IDBI Bank too is likely next fiscal.
The process of privatisation of Air India, BPCL, Pawan Hans, BEML, NINL and Shipping Corp has also moved to the second stage after the government received multiple expressions of interest for these CPSEs.