The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 400 billion (Rs 40,000 crore), as stated in the budget.
The selloff roadmap for the next fiscal will be prepared by the end of next month and may include BSNL as well, a key finance ministry official said.
"Roadmap will be prepared by April-end...We have earmarked 12-15 companies. We will have to raise Rs 40,000 crore so it will be 12-15 companies," disinvestment joint secretary Sidhartha Pradhan said on Wednesday.
He said divestment in some of these companies will be through initial public offers while in some others it will be follow-on public offers.
Pradhan further said disinvestment in Satluj Jal Vidyut Nigam would be carried out in April, Engineers India in May-June, SAIL in August-September and Coal India around the end of the year.
He pointed out that SJVNL has already filed the draft red herring prospectus with the Sebi and the approval from the market regulator is expected by this month-end. The cabinet has already cleared disinvestment in EIL.
On a query whether divestment in telecom gaint BSNL can be done next fiscal, Pradhan said, "yes it could (BSNL divestment). We are still waiting for the telecom ministry to formally inform us what is the extent of divestment."
