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Govt keeps anchor investor options open for PSU IPOs

Govt keeps anchor investor options open for PSU IPOs
PTI
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First Published: Tue, Oct 19 2010. 03 12 PM IST
Updated: Tue, Oct 19 2010. 03 12 PM IST
Kolkata: The proposal for anchor investors is being kept open by the government for the forthcoming public offer by PSUs, though it was dropped in the case of the mega IPO of Coal India.
“We are not dropping the anchor investor plan for the forthcoming public offers. We will take a decision depending on the situation,” disvestment secretary Sumit Bose told PTI.
Asked about the reason for dropping the anchor investor plan for the country largest initial public offer, CIL, Bose said, “it was done after we found extremely positive response from both foreign and domestic institutional investors and the need was not felt.”
Sources in the government had earlier said that the plan for anchor investor was dropped due to lack of transparency in the allotment process.
The government has lined up public offers in PowerGrid Corporation, Shipping Corporation, Manganese Ore India, Hind Copper, SAIL, Indian Oil and ONGC.
It aims to garner Rs40,000 crore from these divestments during the current fiscal.
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First Published: Tue, Oct 19 2010. 03 12 PM IST
More Topics: Anchor Investor | PSU | IPO | Sumit Bose | PowerGrid |