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Tamil Nadu’s public sector enterprises’ investments in Neyveli Lignite Corporation have appreciated over 60 per cent in two years and have earned over ₹16 crore in dividend.
Public sector investmentReplying to the debate on the demand for grants to the Industries Department, the Minister for Industries P Thangamani said the five state public sector enterprises – Sipcot, Tidco, TIIC, Tufidco, TNPFC – had invested ₹358.20 crore to acquire 5.97 crore shares in Neyveli Lignite, a central public sector enterprise in lignite mining and power generation.
Share valueThe value of the shares increased by ₹223 crore and now stood at ₹582 crore, the Minister said. The State Government’s action had helped to retain the value in the public sector which the UPA government had earlier planned to divest. (The State Government invested in the shares in 2013 after strident protests by employees against the Centre’s plan to divest the shares to meet minimum public holding norms of 10 per cent, mandated by SEBI.)
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