Ahmedabad: IDBI Bank and Container Corporation were the two key disinvestment targets for FY2024. Although many hurdles came in the way of their disinvestment and ultimately the scheme was discontinued but the Central Government has allocated Rs. A disinvestment target of Rs 50,000 crore has been set.
With this, the issue of selling government stake in IDBI Bank and Container Corporation has again come to light. The brokerage was expecting Rs. Rs 30,000 crore. A disinvestment target of around Rs 40,000 crore was expected, but the government modified the sentiment by setting the expected disinvestment target significantly higher in the interim budget.
Along with this, the government has revised the disinvestment target for the financial year 2024 to Rs 2,000 crore. Work worth Rs 30,000 crore has been done. Which is Rs. Rs 51,000 crore, about 40 per cent less than the initial target. So far in this financial year, only Rs 10,000 crore has been raised from disinvestment.
The government has 45.48 percent stake in IDBI Bank and LIC has 49.24 percent stake. The government has 54.8 percent stake in Concor. JSW, Maersk and Adani showed interest in buying it. Apart from this, Shipping Corp and BEML are also major government companies in the list of stake sales in the new year.