The Centre is likely to come up with expression of interest (EOI) for strategic sale in three-to-four out of the 16 odd public sector units (PSUs) shortlisted.
According to Neeraj Kumar Gupta, Secretary, Department of Investment & Public Asset Management, the EOI will be out in a month or so.
“As many as eight EOIs have been floated for strategic disinvestment of CPSEs and a few more would come out in the next four-six weeks,” he told newspersons on the sidelines of an interactive session organised by the Merchants’ Chamber of Commerce and Industry here recently.
National Projects Construction Corporation (NPCC), Hindustan Prefab, Central Electronics Ltd, Pawan Hans are among the eight odd companies for which EOI has already been floated.
“There is potential in these companies, we need to unlock them,” he said, explaining the rationale behind strategic sale.
The government has given in-principle approval for strategic disinvestment in Air India and the matter is being processed meticulously, he said.
“Due diligence is taking place. We are progressing in line with the in-principle approval,” refusing to give any timeline for the completion of the process.
The Centre, which is aiming to mobilise ₹72,500 crore from disinvestments in FY-18, has mopped up about ₹52,500 crore by end of November.
Of the ₹72,500-crore disinvestment target set for the fiscal, ₹46,500 crore was to come from minority stake sale; ₹15,000 crore was to be achieved through strategic sales and close to ₹11,000 crore from listing of PSU insurance companies.
When asked if the government would be able to achieve the target, he said, “About ₹52,500 crore has already been mobilised by November against the target of ₹72,500 crore. We have a target and our best endeavour will be to achieve it.”
According to Gupta, 13 public sector companies have been approved for listing in the stock markets. However, whether they would hit the market this year or the next year would depend on the “opportune time”. Of these 13 companies, four have already been listed, he added.