Target reached, but asset monetisation to continue: DIPAM secretary Arunish Chawla
"We have already identified a cluster of 10 national highways, which will provide the underlying capital asset. So, the second public InvITs is in the works and hopefully before the close of this financial year, it will also come to fruition," Chawla said. "We are also bringing down the equity (stake) in nationalised banks gradually to the minimum public shareholding norm of 75%, that is part of…
Mumbai: Despite reaching its divestment targets this fiscal year, the Centre will persist with its asset monetisation goal through OFS deals and reducing government stakes in public-sector banks, DIPAM secretary Arunish Chawla revealed. The government aims to launch a second public Infrastructure Investment Trust (InvIT), ready three companies for IPOs, and lower stakes in PSU banks near the 75% minimum public shareholding norm, Chawla stated.
They have identified 10 national highways as the capital asset for the second public InvIT, which is anticipated to be finalized before the year's end. Additionally, the government has raised Rs 9,500 crore through monetising highway assets, with public banks exceeding 75% government ownership being primary targets for stake reduction.
The government anticipates surpassing its Rs 80,000 crore target for the fiscal year after closing the IDBI Bank deal, expected by year-end.
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