BackIRCTC draft RHP likely to be filed with Sebi next month
The IPO is expected by August-end, official sources saidThe government raised about ₹480 crore by selling 12.12 per cent stake in Rail Vikas Nigam Ltd
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New Delhi, May 8 (IANS) The catering unit of Indian Railways IRCTC is likely to file the draft red herring prospectus for its ₹400 crore IPO next month with market regulator Sebi.
The IPO is expected by August-end, official sources said.
Last month, the government raised about ₹480 crore by selling 12.12 per cent stake in Rail Vikas Nigam Ltd (RVNL).
In April 2017, the Cabinet Committee on Economic Affairs had approved listing of five railway companies -- IRCON International, RITES, RVNL, IRFC and IRCTC. Of them IRCON International and RITES were listed in 2018-19.
The government has budgeted to raise ₹90,000 crore by way of CPSE disinvestment in the current financial year, up from ₹85,000 crore in the last fiscal.
The other modes of disinvestment which the DIPAM would take are strategic disinvestment of a host of CPSEs and monetising non-core assets of state-owned companies and next tranches of Bharat 22 and CPSE ETF.
Bharat-22 ETF, which was launched in 2017-18, has 16 central public sector enterprises covering six sectors, 3 public sector banks and 3 private sector companies where the government holds minority stake.
CPSE-ETF comprises shares of 11 companies -- ONGCNSE, Coal IndiaNSE, Indian Oil Corp, Power Finance Corp, REC, Bharat Electronics, Oil India, NTPC, NBCC (India), NLC India and SJVN Ltd.
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This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
