With just 24 days left in the current financial year, the Government is planning to go full throttle for disinvestment in the remaining time. An Empowered Group of Ministers (EGoM) will meet thrice between March 11 and 19 to decid on price for offloading shares in three Public Sector Undertakings.
“The EGoM will meet on March 11 to fix the price for stake sale in MMTC. The very next day, it will take a call on National Aluminium Company. Finally, on March 19, the EGoM is scheduled to decide about the price for Steel Authority of India,” a senior government official, who did not want to be identified, told Business Line .
On Wednesday, MMTC shares shed over 6 per cent to close at Rs 318.55 on the BSE. However, Nalco closed with over 1 per cent gain at Rs 43.85 and SAIL gained 1.4 per cent at Rs 70.50.
All the three PSUs are to be divested through offer-for-sale (OFS) through stock exchanges. Meanwhile, the EGoM, in its meeting on Wednesday, decided to launch OFS for Rashtriya Chemicals and Fertilizers Ltd on March 8. The Centre aims to offload 12.5 per cent in the company.