The initial public offering (IPO) of LIC alone fetched the government Rs 20,516 crore.(File)New Delhi: The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the Finance Ministry said today.Of this, the largest amount totalling over Rs 1.07 lakh crore through offer for sale in 59 cases. This was followed by a stake sale through Exchange Traded Fund (ETF) in 10 tranches, aggregating to Rs 98,949 crore.Strategic sales in 10 companies, including Air India, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched Rs 45,104 crore.17 CPSEs were listed since 2014-15, which yielded Rs 50,386 crore. Of this, the initial public offering (IPO) of LIC alone fetched the government Rs 20,516 crore.The additional market capitalisation of Rs 7.31 lakh crore was achieved through new listings, the ministry said.Besides, the government has sold its residual stake in Paradeep Phosphate Ltd, IPCL, and Tata Communication for Rs 472 crore, Rs 219 crore and Rs 8,847 crore, respectively.(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)Featured Video Of The DaySnapdeal Calls Off IPO Plans As Tech Stocks Reel From Meltdown
Source link
Strange India 