(Reuters) New Delhi, Feb. 1: The government plans to raise Rs 72,500 crore through stake sales in state-owned companies, including listing of three railway firms IRCTC, IRFC and IRCON. "The shares of railway public sector enterprises (PSEs) such as the IRCTC, IRFC and IRCON will be listed on the stock exchanges," Jaitley said in the Lok Sabha. In the next fiscal, the Centre plans to raise Rs 45,000 through divestment, Rs 15,000 crore via strategic sale and Rs 11,000 crore through the listing of insurance companies. "The announcement to list PSEs in the railway sector, launch of a new exchange traded fund (ETF) with diversified CPSE stocks and other government holdings along with the already indicated listing of the five public sector general insurance companies indicates a new philosophy with regard to disinvestment. The five state-run general insurance companies - New India Assurance Company, United India Insurance, Oriental Insurance Company, National Insurance Company and General Insurance Corporation of India (GIC) - were approved for listing.

Source: The Telegraph February 01, 2017 22:15 UTC