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Motilal Oswal Report
In a major boost to the ongoing reforms program, the Government of India has announced the first privatisation after 19 years.
Tata Sons won the bid for Air India for an enterprise value of Rs 180 billion, bringing to a close a long-drawn process of privatising the loss making Air India.
With this transaction, privatisation 2.0 is likely to get a big boost and would be followed up with the rest of the planned divestments, in our view.
Government of India has a clear and well-stated intent of disinvestment in non-strategic sectors and minimum presence in strategic sectors.
This augurs fairly well for other big-ticket divestment items on the agenda, such as Bharat Petroleum Corporation Ltd., SCI, Pawan Hans, as well as Lice Insurance Corporation of India IPO.
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