Govt Gets LIC's 2k Cr Boost In Record Disinvestment Kitty
Still, LIC has been the single biggest buyer of shares sold by the government in most of these eight companies.
The government offloaded shares in seven companies through one-day OFS (Offer for Sale) route on stock exchanges, while there was one Initial Public Offer for NBCC (National Buildings Construction Corporation).
In 2011-12, the government garnered Rs 13,894 crore through share sales in two companies ONGC and PFC
Interestingly, the government's first ever equity sale of ONGC through the OFS route (Rs 12,750 crore) in the last fiscal was almost entirely bailed out by LIC, which pumped in close to 12,000 crore during the concluding minutes.
In the current fiscal, NTPC was the biggest stake sale programme, fetching around 11,500 crore wherein LIC is estimated to have invested around 1,600 crore.
Besides, LIC is estimated to have bought shares to the tune of 130 crore in the 5,973 crore share sale of NMDC.
Among others, the government raised 3,141 crore via share sale in Oil India, followed by Steel Authority of India Ltd (SAIL) for 1,514 crore, HCL (808 crore), NALCO (620 crore) and RCF.
LIC has purchased shares worth shares worth 211 crore in Hindustan Copper's OFS, 210 crore in NALCO and 142 crore in Rashtriya Chemicals and Fertilizers (RCF).