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POLICY OF THE GOVERNMENT ON DISINVESTMENT
The National Common Minimum Programme, envisages that
profit-making companies will not generally be privatised. All
privatisations
will be considered on a transparent and consultative case-by-case
basis.
The existing “navaratna” companies would be retained
in the public sector
while these companies can raise resources from the capital market.
It also envisages that the public sector companies and nationalized
banks will be encouraged to enter the capital market to raise
resources
and offer new investment avenues to retail investors.
In pursuance of the above policy the Government of India has
set up a " National Investment Fund" and has also approved in
principle the approach that (a) currently unlisted profitable PSUs
with net worth in excess of Rs. 200 crore could be listed through an
Initial Public Offering (IPO), either in conjunction with fresh equity
issue of the PSU or independently, on a case by case basis, subject to
Government's retaining the residual equity of 51% and management control :
(b) sale of minority shareholding profitable PSUs either in conjunction
with a public issue of fresh equity of the PSU or independently, subject
to Government's retaining the residual equity of 51% and management control. |
CAPITAL STRUCTURE OF OIL PSUs AS ON 31.3.2005
| S.NO. |
PSU
of the company |
Authorised
Capital |
Paid
up Capital |
Govt.
of India Holding in % |
1.
| ONGC |
15000.00
| 1425.93
| 74.14 |
2.
| OVL |
500.00
| 300.00
| NIL |
3.
| OIL |
250.00
| 214.00
| 98.13 |
4.
| GAIL |
1000.00
| 846.00
| 57.34 |
5.
| IOC |
2500.00
| 1168.01
| 82.03 |
6.
| HPCL |
350.00
| 339.00
| 51.01 |
7.
| BPCL |
300.00
| 300.00
| 66.20 |
8.
| IBP |
100.00
| 22.15
| NIL |
9.
| EIL |
100.00
| 56.16
| 90.40 |
10.
| BRPL |
200.00
| 199.82
| NIL |
11.
| KRL |
150.00
| 138.47
| NIL |
12.
| NRL |
1000.00
| 735.63
| NIL |
13.
| CPCL |
400.00
| 400.00
| NIL |
14.
| BALMER LAWRIE |
30.00
| 16.29
| NIL |
15.
| BIECCO LAWRIE |
50.00
| 42.00
| 57.37$ |
16.
| MRPL |
2000.00
| 1762.00
| NIL |
In case of IOC and CPCL figures pertain to 2003-04 and the same
for 2004-05 are yet to be finalised.
$ Equity held by OIDB
|
FINANCIAL PERFORMANCE OF OIL PSUs DURING 2004-2005
| S.NO. |
Name of the PSU |
Gross Turnover |
Profit After Tax
|
Dividend in %
|
1.
| ONGC |
45826.00
| 12168.00
| 12168.00 |
2.
| OVL |
4768.60
| 981.87
| NIL |
3.
| OIL |
4617.65
| 946.36
| 33.92 |
4.
| GAIL |
12435.00
| 1947.00
| 17.36 |
5.
| IOC |
130202.95
| 7004.82
| 35.02 |
6.
| HPCL |
63000.00
| 1025.00
| 18.72 |
7.
| BPCL |
63125.61
| 721.02
| 30.00 |
8.
| IBP |
13620.00
| 13620.00
| NIL |
9.
| EIL |
900.00
| 95.00
| 44.21 |
10.
| BRPL |
3320.34
| 426.75
| 60.00 |
11.
| KRL |
13134.50
| 842.12
| 3.78 |
12.
| NRL |
4298.99
| 409.15
| 30.57 |
13.
| CPCL |
9430.45
| 400.05
| 18.61 |
14.
| BALMER LAWRIE |
1071.05
| 29.64
| 30.00 |
15.
| BIECCO LAWRIE |
40.71
| 0.93
| NIL |
16.
| MRPL |
20693.00
| 879.00
| NIL |
In case of IOC and CPCL figures pertain to 2003-2004 and the same
for 2004-05 are yet to be finalised.
$ Equity held by OIDB
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