TaxTMI 
TaxTMI 
Good Response from FIIs in Government OFS Transactions
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....ood Response from FIIs in Government OFS Transactions <br>News and Press Release<br>Dated:- 29-7-2013<br><BR>There are reports in media that Government transactions are salvaged by Life Insurance Corp....
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....oration (LIC) of India and Public Sector Banks (PSBs). However, this is not based on facts. During the year 2012-13, the Department of Disinvestment completed 7 OFS transactions - the major ones bein....
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....g Oil India Ltd., NMDC Ltd., NTPC Ltd., and SAIL. The Government raised about Rs.23,830 crore from 7 offerings. 39% of this amount came from FIIs. Only about 25% came from Insurance Companies includin....
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....g LIC and less than 10% from Banks including Public Sector Banks. In the 4 big Issues, viz., Oil India Ltd., NMDC Ltd., NTPC Ltd., and SAIL an amount of Rs. 22,087 crore was raised, out of which the ....
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....contribution of FIIs was 42%, Insurance Companies including LIC was 22%, and Banks including Public Sector Banks was less than 9%. Government while deciding the pricing of a particular offering take ....
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....into consideration factors like the strength of the Company, market conditions, investor interest, and participation of all categories of investors, etc.; and fix a very reasonable level of price. Giv....
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....en the inherent strength of the Government Companies, long-term investors' participation is good in Government Issues - whether FIIs or Domestic Institutions like LIC. DSM/RS/ka (Release ID :97465)....
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....<BR> News - Press release - PIB....