6 IPO, 1 FPO of CPSEs to hit market

The Union government plans to list seven public sector enterprises in 2019. The Cabinet Committee has approved a divestment plan wherein 6 state-owned entities will float an initial public offering (IPO), while one already listed company KIOCL will issue a follow-on offer. 

These listings will bring government closer to its divestment target of Rs. 800 billion for FY19. Law Minister Ravi Shankar Prasad announced the names of the seven central public-sector enterprises on Friday at a press conference. He said that the decision will enable these companies to realise their true value.

The seven PSUs that will be listed are as follows:

Telecommunication Consultants India Limited [TCIL]

RailTel Corporation India Limited 

National Seed Corporation India Limited (NSC)

Tehri Hydro Development Corporation Limited [THDCIL]

Water & Power Consultancy Services (India) Limited [WAPCOS]

FCI Aravali Gypsum and Minerals (India) Limited [FAGMIL]

Kudremukh Iron Ore Company Limited (KIOCL) is the only listed company and thus will be issue a follow-on public offering (FPO) on Friday, the stock of KIOCL was quoting Rs. 148.50 per share, up by 0.75 per cent.