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Cabinet approves listing of 7 unlisted CPSEs on stock exchange

28 December, 2018 12:22 PM
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Cabinet approves listing of 7 unlisted CPSEs on stock exchange

New Delhi: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi on Friday gave its approval to list seven Central Public Sector Enterprises(CPSE) on the Stock Exchange through Initial Public Offering (IPO) /Further Public Offer (FPO).

Through IPO, Telecommunication Consultants (India) Ltd., RailTel Corporation India Ltd, National Seed Corporation India Ltd, Tehri Hydro Development Corporation Limited (THDC), Water & Power Consultancy Services (India) Limited and FCI Aravali Gypsum and Minerals (India) Limited will be listed. While Kudremukh Iron Ore Company Limited (KIOCL) will be listed through FPO.

The listing of CPSEs on the exchange shall unlock their value and encourage investor participation in the CPSEs, an official release said.

Further, Alternative Mechanism comprising of the Finance Minister, Minister of Road Transport & Shipping and the Minster of concerned administrative ministry has been empowered to decide on extent, mode of disinvestment, pricing, time etc. of listed CPSEs (including CPSEs to be listed in future), it added.

Source: zeenews.india.com

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