Govt considers listing PSU green energy arms, says Dipam secretary

21 Feb 2024 CW Team

Tuhin Kanta Pandey, the Secretary of the Department of Investment and Public Asset Management (Dipam), mentioned on Friday that the Central Government is considering the potential listing of subsidiaries of specific public energy companies.

Pandey stated that there was ample opportunity for the subsidiary units of some significant companies to enter the market. He observed a rapid transition occurring in the energy sector, with energy companies creating subsidiaries for green assets. According to Pandey, these subsidiaries exhibit tremendous growth prospects and are expanding rapidly. He expressed that such developments are expected to materialize.

Moreover, he mentioned that some of the monetisation activities could be executed through the capital market, specifically through initial public offerings (IPOs).

Pandey emphasised the importance of listings in deepening the market, highlighting that listed companies outperform their unlisted counterparts. Regarding the divestment of public sector companies, he emphasised the need for the dilution of stocks in the market to adhere to principles consistent with market dynamics. He cautioned against creating a price overhang or selling at undervalued prices.

Pandey shared these insights during his address at the capital market summit organized by the industry body Assocham.

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