The Cabinet Committee on Economic Affairs (CCEA) has given its approval for the listing of 11 Central Public Sector Enterprises (CPSEs) on stock exchanges. As approved, the listing of CPSEs will be through the public offer of shares up to 25 per cent of Government of India’s shareholding, which may include an offer of fresh shares for raising of resources from the market. However, actual disinvestment in respect of each CPSE along with the mode of raising resources has been delegated for the decision on a case to case basis to the Alternative Mechanism, headed by Finance Minister Arun Jaitley. These CPSEs are:-
1. Rail Vikas Nigam Limited (RVNL)
2. IRCON International Limited
3. Indian Railway Finance Corporation (IRFC) Ltd.
4. Indian Railway Catering and Tourism Corporation (IRCTC) Ltd.
5. RITES Ltd.
6. Bharat Dynamics Limited (BDL)
7. Garden Reach Shipbuilders & Engineers (GRSE) Ltd.
8. Mazagon Dock Shipbuilders Limited (MDSL)
9. North Eastern Electric Power Corporation (NEEPCO) Ltd.
10. MSTC Ltd.
11. Mishra Dhatu Nigam Ltd. (MIDHANI)
The CCEA has also approved reservation of shares for the eligible employees of 11 CPSEs in accordance with the extant provisions of SEBI Regulations. With a view to ensuring wider participation by small investors in the CPSEs’ disinvestment program, a price discount up to 5 percent on the issue price has also been approved for the retail investors and eligible employees of 11 CPSEs participating in this offer.
Takeaways from above News-
- CCEA has given its approval for the listing of 11 CPSEs on stock exchanges.
- CPSEs stands for Central Public Sector Enterprises.
- CCEA stands for Cabinet Committee on Economic Affairs
If you have any other takeaways, do share with us in the comment section
Source- Press Information Bureau (PIB)