2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017 - Hallo friend CHOOSE HEALTHY, In the article you read this time with the title 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017, we have prepared well for this article you read and download the information therein. hopefully fill posts items ALTERNATIVE MEDICINE, items COMMERCIAL, items GENERIC, items HEALTH, items HEALTHY RECIPES, we write this you can understand. Well, happy reading.

Title : 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017
link : 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017

2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017

The NDA Government Tuesday Feb 07,2017  raised Rs. 6,700 crore through sale of 2 per cent stake in tobacco-to-FMCG firm ITC, held through Specified Undertaking of the Unit Trust of India (SUUTI).

The transaction took place through block deals with Life Insurance Corporation of India (LIC) picking up the entire chunk on offer at a price of Rs. 275.85 a piece

Government has sold 2 per cent stake at a discount of 0.15 paise over previous closing price of Rs 276

SUUTI, which was created to take over part of the assets and liabilities of the now—defunct Unit Trust of India, held 11.17 % stake in ITC

With this, the government holding in ITC through SUUTI has come down to 9.17 %

With this transaction, the government has garnered nearly Rs. 39,000 crore from disinvestment so far in the current fiscal through 12 transactions

The revised estimates for disinvestment target is at Rs. 45,500 crore.

Besides ITC, SUUTI also holds stake in 51 companies with major holdings in L&T (6.53 per cent) and Axis Bank (11.53 per cent).

The government intends to lower its stake in these firms over a three—year period and has appointed merchant bankers for advising on the sale process.

The government had in November 2016 sold 1.63 per cent in L&T, while in March 2014 sold 9 per cent stake in Axis Bank to raise Rs. 5,500 crore through block deals.

thus Article 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017

that is all articles 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017This time, hopefully can provide benefits to all of you. Okay, see you in another article posting .

You now read the article 2016-17 Disinvestment - NDA Govt sells 2% stake in ITC, raises Rs 6,700 cr Tuesday Feb 07,2017 with the link address https://choosehealthys.blogspot.com/2017/02/2016-17-disinvestment-nda-govt-sells-2.html

Tweet

Subscribe to receive free email updates: