Latest news with #CPSEs
India Gazette
9 hours ago
- Business
- India Gazette
RailTel bags Rs 243 crore work order from Bihar govt
ANI 08 Jun 2025, 14:39 GMT+10 New Delhi [India], June 8 (ANI): State-owned company RailTel Corporation of India has received work orders worth Rs 243 crore from State Project Director, Bihar Education Project Council, according to a stock exchange filing. The work order is for the supply of 'students kit' for the students of Class 1 to Class 12 at government schools in Bihar. As per the exchange filing, the order must be fulfilled by August 14, 2025. On June 4, the company had received orders worth Rs 274.40 crore from Motor Vehicles Department, Maharashtra. It is to design, implement, operate and maintain Intelligent Traffic Management System (ITMS) on various blackspots/ vulnerable spots in the Vidarbha Circle for a period of 10 years. RailTel is a Navratna company. The central government had granted Navratna status to Railtel Corporation of India Ltd in August 2024. The grant of 'Navratna' status typically leads to an enhanced delegation of powers, more operational freedom, and financial autonomy which will give huge impetus to these companies. The Navratna companies have the autonomy to invest up to Rs 1,000 crore without seeking approval from the central government. The Department of Public Enterprises (DPE) is the nodal department for all the Central Public Sector Enterprises (CPSEs) and formulates policy about CPSEs. (ANI)
Economic Times
19-05-2025
- Business
- Economic Times
Govt plans gradual 6.5% divestment in mega insurer LIC: Report
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The union government is set to gradually reduce its stake in state-owned mega insurer Life Insurance Corp LIC ), according to a report from Business Standard. The plan is to divest 6.5% of its shareholding over the next 24 move is part of a broader strategy to increase public shareholding in central public-sector enterprises (CPSEs) in compliance with market government intends to carry out the LIC divestment in multiple small tranches, using the offer for sale (OFS) route. The plan aims to provide regular opportunities for retail investors to participate in these share divestment is part of a broader effort to ensure compliance with the regulator Sebi's minimum public shareholding norms, which require listed firms to maintain at least 25% public most CPSEs have achieved this benchmark, some firms in critical sectors such as defence, railways, and financial services are still listing in May 2022 was a landmark event, marking the debut of India's largest insurance company on the stock exchanges. The IPO, which raised over Rs 21,000 crore, was one of the largest public issues in Indian history, though the stock has faced a turbulent journey since its the initial hype, LIC's share price experienced significant volatility, impacted by broader market conditions and investor concerns over its growth prospects. On Monday, LIC shares are up 0.2% following the government's divestment report. The company currently has a market capitalisation of about Rs 5.4 lakh planned gradual divestment of LIC reflects the government's strategy to avoid a sudden impact on the stock's market price while providing consistent opportunities for retail government's broader focus on increasing public participation in CPSEs also aligns with Sebi's public shareholding mandate, which aims to enhance liquidity, transparency, and corporate governance in publicly traded companies.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
19-05-2025
- Business
- Time of India
Govt plans gradual 6.5% divestment in mega insurer LIC: Report
The Union government is preparing to gradually pare down its stake in state-owned insurance giant Life Insurance Corporation (LIC). The government plans to divest its stake in LIC through multiple smaller tranches via the offer for sale (OFS) route, aiming to give retail investors regular opportunities to participate in the share sales. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The union government is set to gradually reduce its stake in state-owned mega insurer Life Insurance Corp LIC ), according to a report from Business Standard. The plan is to divest 6.5% of its shareholding over the next 24 move is part of a broader strategy to increase public shareholding in central public-sector enterprises (CPSEs) in compliance with market government intends to carry out the LIC divestment in multiple small tranches, using the offer for sale (OFS) route. The plan aims to provide regular opportunities for retail investors to participate in these share divestment is part of a broader effort to ensure compliance with the regulator Sebi's minimum public shareholding norms, which require listed firms to maintain at least 25% public most CPSEs have achieved this benchmark, some firms in critical sectors such as defence, railways, and financial services are still listing in May 2022 was a landmark event, marking the debut of India's largest insurance company on the stock exchanges. The IPO, which raised over Rs 21,000 crore, was one of the largest public issues in Indian history, though the stock has faced a turbulent journey since its the initial hype, LIC's share price experienced significant volatility, impacted by broader market conditions and investor concerns over its growth prospects. On Monday, LIC shares are up 0.2% following the government's divestment report. The company currently has a market capitalisation of about Rs 5.4 lakh planned gradual divestment of LIC reflects the government's strategy to avoid a sudden impact on the stock's market price while providing consistent opportunities for retail government's broader focus on increasing public participation in CPSEs also aligns with Sebi's public shareholding mandate, which aims to enhance liquidity, transparency, and corporate governance in publicly traded companies.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
18-05-2025
- Business
- Business Standard
Slew of PSU stake sales soon; govt plans to divest 6.5% in LIC in tranches
The government plans to divest a 6.5 per cent stake in Life Insurance Corporation (LIC) of India in tranches over the next 24 months, while kicking off a slew of share sales in central public-sector enterprises (CPSEs) this financial year to meet the stock market regulator's minimum public shareholding (MPS) mandates. 'This year, we will follow a strategy of regular offers for sale (OFS) in small tranches. We are officially giving forward guidance for small investors to look out for it,' Department of Investment and Public Asset Management (Dipam) Secretary Arunish Chawla told Business Standard in an interview. While most CPSEs are now compliant with the MPS norms that require at least 25 per cent of public shareholding for listed firms, a few firms in sectors like defence, railways, and the financial sector are still lagging. 'We are actively pursuing their disinvestment. Hopefully, within the next one year, we would like them to achieve MPS norms,' he stressed. The deadline for five public-sector banks like Bank of Maharashtra and UCO Bank to meet the 25 per cent public shareholding mandate is August 2026, while the Securities and Exchange Board of India (Sebi) has permitted LIC to raise its public stake to 10 per cent by May 16, 2027. The insurance behemoth was listed in May 2022 with a 3.5 per cent dilution of the government's stake. 'We will do this (LIC) disinvestment in small tranches, keeping in mind the liquidity conditions and the need to give small investors a fair chance to participate,' the secretary said. Diluting a 6.5 per cent stake in LIC would fetch the Centre ₹35,256 crore according to its current market price.
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Business Standard
15-05-2025
- Business
- Business Standard
Centre pushes CPSEs towards tech adoption, AI focus to boost efficiency
The senior official further explained that the change in traditional approach means CPSEs need to develop more core systems through the new emerging technologies such as AI Delhi Listen to This Article The Union Finance Ministry has asked the Central Public Sector Enterprises (CPSEs) to channel efforts and investments into advanced technologies, particularly artificial intelligence (AI) to enhance operational efficiency and maintain strategic competitiveness, according to a senior government official. 'CPSEs must be more judicious with their resource use. We need a shift from routine spending to a more focused adoption of cutting-edge technologies,' the official said, adding that such an approach would be key to navigating future economic challenges. The Research & Development (R&D) expenditure of all Central Public Sector Enterprises (CPSEs) stood at ₹10,813 crore in FY 2023-24 against ₹7,233
