The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its approval for listing of the following 11 CPSEs (Central Public Sector Enterprises) on stock exchanges:
- Rail Vikas Nigam Limited (RVNL)
- IRCON International Limited
- Indian Railway Finance Corporation (IRFC) Ltd.
- Indian Railway Catering and Tourism Corporation (IRCTC) Ltd.
- RITES Ltd.
- Bharat Dynamics Limited (BDL)
- Garden Reach Shipbuilders & Engineers (GRSE) Ltd.
- Mazagon Dock Shipbuilders Limited (MDSL)
- North Eastern Electric Power Corporation (NEEPCO) Ltd.
- MSTC Ltd.
- Mishra Dhatu Nigam Ltd. (MIDHANI)
As approved, listing of CPSEs will be through public offer of shares upto 25 per cent of Government of India’s shareholding, which may include offer of fresh shares for raising of resources from market.
However, actual disinvestment in respect of each CPSE alongwith the mode of raising resources has been delegated for decision on a case to case basis to the Alternative Mechanism, headed by the Finance Minister. 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 ensure wider participation by small investors in the CPSEs’ disinvestment program, a price discount upto 5 per cent on the issue price has also been approved for the retail investors and eligible employees of 11 CPSEs participating in this offer.
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