FM Releases Handbook on Disinvestment Through Public Offerings; It Will Ensure Uniformity and Continuity Over Different Issues and Would Help in Evolving and Strengthening the System
Union Finance Minister Shri Pranab Mukherjee has said that the process of disinvestment of Central Public Sector Enterprises (CPSEs) through public offerings is technical in nature and requires knowledge of not only the rules and regulations laid down by SEBI and other concerned bodies but also the various processes followed by Government. He was releasing the “Handbook on Disinvestment through Public Offerings” prepared by the Department of Disinvestment of the Ministry of Finance, here today.
The Finance Minister Shri Mukherjee said that it was with the idea of putting down the experience which the Department has gained from these public issues that this Handbook on Disinvestment took form. He stated that in the last two financial years, the Department of Disinvestment has overseen 11 public offerings and has gained valuable insights into the entire process of public offerings. Even though all the issues were through the book building process and to that extent were uniform in nature; there were some unique issues and challenges thrown up, which the Department was able to successfully meet.
Shri Mukherjee said that the handbook will be very handy since it is a step-by-step guide to the entire disinvestment process starting from seeking Government approval to final listing on the stock exchanges. It will ensure uniformity and continuity over the different issues and at the same time help to evolve and strengthen the system, he said. He stated that the online version of the handbook will be updated regularly. The Finance Minister said that the handbook would prove to be useful to all parties involved in a Government disinvestment like the CPSEs, Administrative Ministries and Department of Disinvestment.