New Delhi: The Department of Investment and Public Asset Management has invited bids for the appointment of bankers to advice on the proposed initial public offering (IPO) of three railway public sector companies, according to a government notification.
Finance Minister Arun Jaitley, in his 2017-18 (Apr-Mar) Budget speech, had proposed listing shares of railway public sector companies, including Indian Railway Catering and Tourism Corporation (IRCTC), IRCON international, and Indian Railway Finance Corporation (IRFC) on the bourses. The bids are open until Mar 16, the notice said, reports Cogencis.
The government, which has raised about Rs 377 billion from disinvestments so far in 2016-17, has set an all-time high target of Rs 725 billion for 2017-18.
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