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The govt is looking to divest Alliance Air and Air India Engineering services simultaneously. Civil aviation secretary Rajiv Bansal has said that the Department of Investment and Public Asset Management may invite expressions of interest from bidders very soon

Centre looks to divest Alliance Air & AI Engineering Services 

EoI for Alliance Air, AI Engg Services soon: Civil aviation secretary

The govt is looking to divest Alliance Air &amp; Air India Engineering services simultaneously. Civil aviation secretary Rajiv Bansal said that the Department of Investment and Public Asset Management (DIPAM) will invite expressions of interest from bidders soon

The government is preparing to privatise the low cost carrier Alliance air and India's largest MRO (Maintenance, Repair and Overhaul) player Air India Engineering services, simultaneously.&nbsp;
"The process of disinvestment of both the companies will be done simultaneously. Expressions of interest (EoIs) will be invited by the government in due course", Rajiv Bansal, civil aviation secretary said while speaking at the CAPA India Aviation Summit.&nbsp;
Bansal mentioned that the first and second steps of holding roadshows for the divestment of AIESL and the second step of approval from the group of ministers are completed. The final approval from the Alternative Mechanism for Disinvestment, a top ministerial panel, is awaited following which the expressions of interest will be invited, as per a report by Financial Express&nbsp;
AIESL, AIASL, and AAAL were subsidiaries of Air India when the government owned it. However, they were not part of Air India's privatisation. The Tata group took control of Air India from the government in January last year.
The divestment of Alliance Air has been in the works since the middle of last year but there hasn&rsquo;t been any formal EOI so far.

The govt had set a disinvestment target of Rs 65,000 cr for the current financial year, of which so far just Rs 31,000 cr has been raised.  

BUDGET 2023: Govt likely to miss divestment target

The govt had set a disinvestment target of Rs 65,000 crore for the current financial year, of which so far just Rs 31,000 crore has been raised.  

The govt had set a disinvestment target of Rs 65,000 crore for the current financial year, of which so far just Rs 31,000 crore has been raised.&nbsp;&nbsp;

For the last few years, the govt of India has been unable to meet its disinvestment target. This year as well, this situation is similar.&nbsp; Last budget, the govt has set a divestment target of Rs 65,000 crore for the current financial year. However, so far the govt has been able to raise about 31,000 crore which is just around 50% of its target.&nbsp; Over half the amount raised has come from the IPO of Life Insurance Corporation (LIC), where Rs 21,000 crore was raised after a divestment of 3.5%. The privatisation of BPCL was also slated for FY23, but it was put on hold due to the volatile crude prices.&nbsp;&nbsp;
In fact, the Department of Investment and Public Asset Management has suggested that dividends from PSUs be considered as divestment collections, as they are revenue resources for the government. Currently, PSU dividends received by the Centre are not considered as disinvestment proceeds. Source: Mint&nbsp;

With a focus on the mega LIC&nbsp;IPO&nbsp;scheduled for this fiscal, the govt may postpone plans to privatise one general insurer and two banks this year as per reports.General Insurance Business (nationalisation) Act 1972 has been given a miss for this parliament session and sources told Moneycontrol.com that finance ministry is looking the privatisation plan for 2022-23 as it requires many details yet to be formalised to ensure job security and smooth transition.&nbsp;As per reports Central Bank of India and Indian Overseas Bank had been shortlisted for privatisation. The insurance company, as yet unidentified, could be one among National Insurance, United India Insurance and Oriental Insurance.

Privatisation Postponed? Privatisation of general insurer, 2 banks unlikely: reports

Privatisation Postponed?

Finance Ministry had assured no job losses in the process of privatisation.&nbsp;

With a focus on the mega LIC&nbsp;IPO&nbsp;scheduled for this fiscal, the govt may postpone plans to privatise one general insurer and two banks this year as per reports. General Insurance Business (nationalisation) Act 1972 has been given a miss for this parliament session and sources told Moneycontrol.com that finance ministry is looking the privatisation plan for 2022-23 as it requires many details yet to be formalised to ensure job security and smooth transition.&nbsp; As per reports Central Bank of India and Indian Overseas Bank had been shortlisted for privatisation. The insurance company, as yet unidentified, could be one among National Insurance, United India Insurance and Oriental Insurance.

LIC&nbsp;IPO&nbsp;takes a big step forward as the&nbsp;Cabinet Committee for Economic Affairs (CCEA) has approved part divestment of the government stake in&nbsp;Life Insurance&nbsp;Corporation of India (LIC) through an initial public offering (IPO).Now that the&nbsp;Cabinet has cleared disinvestment of the country's largest insurer LIC,&nbsp;a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official. The backend for the IPO&nbsp;is prepped and ready as all the 27 legislative amendments to LIC Act 1956 have also been put into effect.&nbsp;The street expects the LIC&nbsp;IPO&nbsp;to garner a whopping Rs 1 lakh crore&nbsp;via it's initial offering to the public.&nbsp;

LIC IPO: CCEA gives nod for mega IPO, Over to FM to decide quantum and details

In a giant step forward LIC&nbsp;IPO&nbsp;plan readied for the Dalal&nbsp;Street ride.&nbsp;

LIC IPO

The government expects to come out with the LIC IPO by the end of current fiscal.&nbsp;

LIC&nbsp;IPO&nbsp;takes a big step forward as the&nbsp;Cabinet Committee for Economic Affairs (CCEA) has approved part divestment of the government stake in&nbsp;Life Insurance&nbsp;Corporation of India (LIC) through an initial public offering (IPO). Now that the&nbsp;Cabinet has cleared disinvestment of the country's largest insurer LIC,&nbsp;a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official. The backend for the IPO&nbsp;is prepped and ready as all the 27 legislative amendments to LIC Act 1956 have also been put into effect.&nbsp; The street expects the LIC&nbsp;IPO&nbsp;to garner a whopping Rs 1 lakh crore&nbsp;via it's initial offering to the public.&nbsp;

Reports indicate that the Govt think tank Niti&nbsp;Ayog has submitted the names of the PSU&nbsp;Banks that can be privatised this year.&nbsp;
Niti Aayog has been given the task of selecting names of two public sector banks and one general insurance company for privatisation as planned in the Budget for FY'22.Bank of Maharashtra is up over 30% in one week, Indian Overseas Bank is up over 25% in the same period as traders bet on the privatisation theme.&nbsp;


This is why midcap PSU banks are soaring

In just one week Bank Of Maharashtra up 30%, Indian Overseas Banks up over 25%, Why are traders betting big on midcap&nbsp;PSU&nbsp;banks?

Reports indicate that the Govt think tank Niti&nbsp;Ayog has submitted the names of the PSU&nbsp;Banks that can be privatised this year.&nbsp;
Niti Aayog has been given the task of selecting names of two public sector banks and one general insurance company for privatisation as planned in the Budget for FY'22. Bank of Maharashtra is up over 30% in one week, Indian Overseas Bank is up over 25% in the same period as traders bet on the privatisation theme.&nbsp;

disinvestment

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