Business

Cabinet okays IPOsof six CPSEs

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The Union Cabinet approved the listing of seven central public sector enterprises (CPSEs) on the stock exchanges through initial public offering (IPO) or follow-on public offer (FPO).

The companies that will go for IPOs include Telecommunication Consultants (India) Ltd., RailTel Corporation India Ltd., National Seed Corporation India Ltd., Tehri Hydro Development Corporation Limited, Water & Power Consultancy Services (India) Limited and FCI Aravali Gypsum and Minerals (India) Limited. Kudremukh Iron Ore Company Limited will go for an FPO.

“The listing of CPSEs on the exchange shall unlock their value and encourage investor participation in the CPSEs,” the government said in a release. “The scope of eligibility criteria for listing of CPSEs has been expanded. CPSEs with positive net worth and net profit in any of the immediately three preceding financial years shall be eligible for listing on the stock exchanges.”

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Printable version | Jan 22, 2020 4:53:08 PM | https://www.thehindu.com/business/cabinet-okays-iposof-six-cpses/article25854124.ece

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