Kolkata: The proposal for anchor investors is being kept open by the government for the forthcoming public offer by public sector undertakings (PSUs), though it was dropped in the case of the mega initial public offer (IPO) of Coal India Ltd (CIL), reports PTI.
"We are not dropping the anchor investor plan for the forthcoming public offers. We will take a decision depending on the situation," divestment secretary Sumit Bose told PTI.
Asked about the reason for dropping the anchor investor plan for the country largest initial public offer, CIL, Mr Bose said, "it was done after we found extremely positive response from both foreign and domestic institutional investors and the need was not felt."
Sources in the government had earlier said that the plan for anchor investor was dropped due to lack of transparency in the allotment process.
The government has lined up public offers in Power Grid Corporation, Shipping Corporation, Manganese Ore India, Hind Copper, SAIL, Indian Oil and ONGC.
It aims to garner Rs40,000 crore from these divestments during the current fiscal.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
