The government is signalling that its disinvestment programme is likely to remain active through the rest of the financial year, with DIPAM Secretary Arunish Chawla saying the Centre expects to meet its Rs 80,000 crore FY27 disinvestment target.
The government has already mobilised around Rs 52,000 crore, including through the LIC offer for sale and the latest Hindustan Copper stake sale. Chawla said the department is working towards achieving the target, while emphasising that the focus is on outcomes rather than targets alone.
“We are working hard and we will achieve the target and we will continue to work hard,” Chawla told NDTV Profit.
While he declined to identify the next company that could come to the market, Chawla indicated that more market offers could follow.
“Good habits once built up last,” he said when asked about the pipeline of large OFS transactions, adding that the government would “continue to keep coming with market offers”.
The comments suggest that the Hindustan Copper OFS is unlikely to be an isolated transaction, although the government did not provide details on the next stake sale or its timing.
Chawla also said the government now has a market research unit within DIPAM and an internal operations room, dubbed “Kurukshetra”, to assess market conditions before launching transactions. He said the government does consider market conditions while making its decisions.
For Hindustan Copper, the latest OFS will take the government's holding down to 60% from 66%. Chawla said the government intends to retain that level while leaving the company some room to raise capital from the market for mining and technology-intensive investments.
ALSO READ: Hindustan Copper Share Price Falls Nearly 6% After Govt Launches Stake Sale
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
