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The federal government holds 84.83% within the agency. At present valuations, the sale of a ten% stake could fetch the federal government round ₹570 crore.
“The stake sale might be finished by way of the supply on the market (OFS) route. Discussions are on between the executive ministry and disinvestment division,” the official mentioned.
A ultimate choice on the quantum of stake to be offered could be determined by the choice mechanism, which may have on board each the finance in addition to defence ministers.
“We count on the transaction to be accomplished inside this 12 months, relying on market circumstances,” the official added.
Mazagon Dock shares closed 3.8% decrease at ₹285.70 on the BSE.
The corporate listed in 2020, and the federal government had offered a 15.17% stake for round ₹440 crore. It was the primary public sector enterprise to be listed in 2020.
The federal government has pegged the disinvestment goal for the continuing fiscal 12 months (FY23) at ₹65,000 crore. Thus far, it has raised about ₹23,575 crore by way of disinvestment in FY23. Of this, ₹20,560 crore was from the
IPO, and ₹3,000 crore got here from the sale of a 1.5% stake in state-run explorer .
Final month, the Union Cupboard authorised the sale of the federal government’s residual stake of 29.5% in
(HZL), which can assist elevate round ₹38,000 crore. The federal government has known as off the strategic sale for . The strategic sale of Pawan Hans and CEL Ltd are additionally being reviewed.
