Govt to decide on Maruti, BHEL divestment



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Thursday, January 27, 2005 (New Delhi):


The cabinet will work out the mechanism of disinvestment in Maruti and BHEL today.

The government has postponed the disinvestment in the two companies till after April this year.

Government will offload a 10 per cent stake in BHEL and 7.5 per cent stake in Maruti to raise nearly Rs 2,500 crore.

The IPO route is one possibility for disinvestment, and a large chunk will be sold directly to government-owned financial institutions like GIC and LIC.

Domestic mutual funds will also get a part of the stake, and about half a per cent will be reserved for employees of the two companies.

from ndtv.com

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