Within three weeks of Budget announcement, the Finance Ministry started the process of listing three rail PSUs -- IRCTC, IRFC and IRCON. The Department of Investment and Public Asset Management (DIPAM) is scouting for merchant bankers to manage the initial public offering (IPO) of the three PSUs, which is under the administrative control of the Rail Ministry. "The shares of Railway public sector enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed in the stock exchanges," Jaitley had said in his speech. The government intends to raise Rs 72,500 crore through disinvestment of PSUs in the next fiscal. Of this, Rs 46,500 crore would be raised through disinvestment of minority stake and Rs 11,000 crore through strategic sale.

Source: dna February 20, 2017 05:15 UTC