DIPAM secretary Tuhin Kanta Pandey said on Monday that the government had received several rates of interest from bidders for privatization of Ishachal Nigam Limited (NINL).
The Department of Investment and Public Asset Management (DIPAM) invited preliminary bids for the strategic sale of NINL in January. The last date for submission of bids was 29 March. “Mr. Pandey tweeted,” Many expressions of interest received for privatization of Neel Ispat Nigam Limited (NINL). ”
The DIPAM Secretary said that the transaction has now moved into the second phase. NINL MMTC is a joint venture of NMDC, BHEL, MECON and two Odisha government owned enterprises – OMC and IPICOL.
In January last year, the cabinet approved strategic disinvestment of equity shareholding of MMTC (49.78%), NMDC (10.10%), MECON (0.68%), BHEL (0.68%), IPICOL (12%) and OMC (20.47%). Was given. In the NINL.
The privatization process of Air India, BPCL, Pawan Hans, BEML and Shipping Corp has also gone into the second phase after the government received several types of interest (EOI) for these CPSEs.
For 2021-22, the government has set a disinvestment target of Rs 1.75 lakh crore, a target of five times more in the current financial year. In the revised estimates, the target for the current financial year has been set at Rs 32,000 crore.
In this financial year, the government has earned a net profit of ₹ 32,835 crore through minority stake sale in CPSEs and share buybacks.
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