By Martin Shwenk Leade

Copyright indiatimes

The Indian government will sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told CNBC-TV18 on Monday, Reuters reported.Chawla did not say which companies might be considered for stake sales, though Reuters has earlier reported that India plans to sell shares in five public sector banks, including UCO Bank and Bank of Maharashtra.The government is also required to reduce its stake in the country’s largest insurer, Life Insurance Corporation of India, in order to comply with the market regulator’s minimum public shareholding rules.Chawla said the government will launch an initial public offering (IPO) of a state-run company in the natural resources sector during the current financial year. The IPO could involve a state-owned firm or one of its subsidiaries, he added.The secretary did not name the company, but ONGC and NHPC have been considering listing their green energy units, ONGC Green Energy and NHPC Renewable Energy.Live Events”We started with a few stake sales at the beginning of the year, we held up a bit in days of nervousness, but as markets have stabilised, we will bring in value creation opportunities for small investors. We will bring in more OFS, we will bring in minority stake sales, we will bring in few IPOs and we will speed up this journey,” Chawla said at Network18 Reforms Reloaded 2025 event in New Delhi. “Half a dozen OFS (offer for sale), minority stake sale is likely along with 1-2 strategic sales,” he said.Asked about which sectors may see the next set of IPOs, the DIPAM secretary said insurance, defence space may see action. “In these sectors you will see various forms of minority stake sales, through various SEBI-approved methods. We have a good target in mind,” Chawla said.The secretary also said that ‘fingers are crossed’ and the government expects to beat the divestment aim this year.”I would refute that disinvestment in India is dead,” he said.The government said in July that it is “difficult” to predict the exact amount of disinvestment proceeds for this fiscal year, as the outcome depends on several factors, including administrative feasibility, market conditions, the economic outlook, and investor interest. In a written reply in the Lok Sabha, minister of state for finance Pankaj Chaudhary said the FY26 budget estimate of Rs 47,000 crore under miscellaneous capital receipts reflects the total funds expected from the government’s management of equity investments and public assets through various channels, not just disinvestment.Chawla said, the government hopes o complete the strategic disinvestment of IDBI Bank in this financial year.Meanwhile, Chawla said the government aims to exceed Rs 1,20,000 crore dividend this year. Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)

Read More News onlife insurance corporation of indiaIndian government divestmentDisinvestmentminority stakes saledivestment targets Indiadefense sector investmentsArunish Chawlainsurance sector IPOsdividend targets India

(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

(You can now subscribe to our Economic Times WhatsApp channel)Read More News onlife insurance corporation of indiaIndian government divestmentDisinvestmentminority stakes saledivestment targets Indiadefense sector investmentsArunish Chawlainsurance sector IPOsdividend targets India(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories