India’s Disinvestment budget Rs 80k crore, in proceeding it already touched Rs 54k crore

Government budgeted to  Rs 80,000 crore disinvestment  this year where the proceeds have touched Rs 53,558 crore so far in the current fiscal.
As a part of disinvestment, government has sold as much as 3 per cent stake in Axis Bank held via SUUTI through an offer for sale (OFS) and raised about Rs 5,300 crore.
Last week, as much as Rs 10,000 crore came in from Bharat-22 ETF and, another Rs 5,379 crore from the sale of Specified Undertaking of Unit Trust of India (SUUTI) stake in Axis BankNSE -0.36 %.

Besides, the additional offering or Bharat-22 Exchange Traded Fund (ETF) garnered about Rs 10,000 crore to the exchequer. The issue got bids worth Rs 49,528 crore, with foreign investors pouring in Rs 38,000 crore and retail buyers Rs 2,000 crore.

In the sector of Oil,  Indian Oil Corporation (IOC) brought Rs 2,647 crore to the disinvestment budget, while BHEL, NHPC and Cochin Shipyard garnered Rs 992 crore, Rs 398 crore and Rs 137 crore, respectively.

OFS of Coal India earned Rs 5,218 crore while sale of units of CPSE ETF garnered Rs 17,000 crore. Besides, sale of Bharat-22 ETF has fetched Rs 8,325 crore in June 2018.

The government has fixed disinvestment target of Rs 80,000 crore for the current fiscal ending March. For the next fiscal, the target has been set at Rs 90,000 crore.

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