LIC IPO on course, to be out within FY22: DIPAM
According to Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), the IPO plan is on course.
The central government has received about Rs 307 crore and Rs 20 crore from Oil India Ltd and MSTC, respectively, as dividend tranches.
Department of Investment and Public Asset Management (DIPAM), informed in a tweet.
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Last week, it had received Rs 81 crore and Rs 31 crore from IRCTC and Bhartiya Rail Bijlee Co Ltd, respectively, as dividend tranches. Moreover, Rs 604 crore, Rs 450 crore, and Rs 37 crore from SAIL, HUDCO, and IREL, respectively, as dividend tranches last week.
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Government has respectively received about Rs 307 crore and Rs 20 crore from Oil India Ltd and MSTC as dividend tranches. pic.twitter.com/Q3zDWt9ZUr
— Secretary, DIPAM (@SecyDIPAM) October 10, 2022
Under the Ministry of Finance, DIPAM deals with all matters relating to the management of Central government investments in equity including disinvestment of equity in Central Public Sector Undertakings.
The four major areas of its work are related to strategic disinvestment, minority stake sales, asset monetization, and capital restructuring.
The government is expecting a 27 percent lower dividend at Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions in 2022-23.
In absolute terms, this is nearly 27,400 crore lower than the Revised Estimates (RE) of Rs 1,01,353 crore under the head of dividend or surplus of Reserve Bank, nationalized banks and financial institutions during the current fiscal.
As per the Budget document, dividends from public sector enterprises and other investments have also been pegged lower at Rs 40,000 crore as against RE of Rs 46,000 crore.
The total dividend collection for the next financial year would be Rs 1,31,948 crore as against the RE of Rs 1,68,247 crore, as per the RE of 2021-22.
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