The government is planning to raise Rs 1,500 crore through two companies' IPOs. It is expected that by September, the government can present the IPO of IRCTC and IRFC. Both companies are under the control of the Ministry of Railways.
Earlier, the Finance Ministry had started the exercise to present the IPO of the Indian Railway Finance Corporation (IRFC). But, the company informed the Ministry of Railways that if they were listed, the cost of their loan would be increased. However, the central cabinet will take a final decision in this regard.
An official said on condition of anonymity, "We are working to present the IPOs of IRCTC and IRFC, IRFC may have to go back to the cabinet again after the elections." IRFC's draft red herring prospectus DHRP) will also be filed after the elections. "
Indian Railway Catering and Tourism Corporation (IRCTC) can raise Rs 500 crore via IPO. While the IRFC's target will be Rs. 1,000 crores. IRCTC will soon introduce DHRP to the market regulator SEBI.
In April, 2017, the Cabinet Committee on Economic Affairs had given a green signal to the listing of five government companies. It included IRCON International, Rights, RVNL, IRFC and IRCTC. Of these, IRCON Internal and Rights were listed in the financial year 2018-19.
Earlier this month, the government had raised Rs. 480 crores by selling 12.12 percent stake in Rail Vikas Corporation (RVNL). The government has set a disinvestment target of Rs 90,000 crore for the financial year 2019-20. The target was Rs 85,000 crore in the last financial year.
An official said on condition of anonymity, "We are working to present the IPOs of IRCTC and IRFC, IRFC may have to go back to the cabinet again after the elections." IRFC's draft red herring prospectus DHRP) will also be filed after the elections. "
Indian Railway Catering and Tourism Corporation (IRCTC) can raise Rs 500 crore via IPO. While the IRFC's target will be Rs. 1,000 crores. IRCTC will soon introduce DHRP to the market regulator SEBI.
In April, 2017, the Cabinet Committee on Economic Affairs had given a green signal to the listing of five government companies. It included IRCON International, Rights, RVNL, IRFC and IRCTC. Of these, IRCON Internal and Rights were listed in the financial year 2018-19.
Earlier this month, the government had raised Rs. 480 crores by selling 12.12 percent stake in Rail Vikas Corporation (RVNL). The government has set a disinvestment target of Rs 90,000 crore for the financial year 2019-20. The target was Rs 85,000 crore in the last financial year.
For regular updates on the stock market, please click on our Facebook page. Click here to like this page.
No comments:
Post a Comment