The Center has started preparations to sell the stake of the government company National Seeds Corporation. The government will bring an IPO to sell its 25 percent stake. The Department of Investment and Public Asset Management has also started preparations to appoint a merchant bank for book running of this IPO and related legal proceedings. Bids have been invited for this. National Seeds Corporation works under the Ministry of Agriculture and Farmers Welfare.
Mini Ratna PSU is National Seeds Corporation
The last date to apply for the appointment of Merchant Bankers and Legal Advisors is 1st September 2021. According to DIPAM, the government will appoint two investment bankers, who will complete the process of IPO. The government holds 100 per cent stake in National Seeds Corporation. This Mini Ratna PSU company had earned a net profit of Rs 29.92 crore during the financial year 2019-20. Its net worth was Rs 646.37 crore as on 31 March 2020. .
SEBI approves IPO of Sansera Engineering, the entire issue will be offer for sale
Disinvestment target of Rs 1.75 crore for FY 2021-22
The government has set a disinvestment target of Rs 1.75 crore for the financial year 2021-22. But so far Axis Bank has raised only Rs 8,368 crore by selling its stake in NMDC Ltd and HUDCO (Housing and Urban Development Corp (HUDCO). The IPO to be brought by the government for LIC will be the biggest IPO. It is expected to be launched in the last quarter.