DIPAM Secretary tweeted that the dividend is inclusive of special dividends acquired from the sale of its stake in Nulaigarh Refinery in March, this year.
The share purchase agreement stipulates that the buyer has agreed to the terms set out by the target company for completing the transaction or acquisition.
Tata Sons had won the bid for acquiring 100 per cent stake in the national carrier, last week. A consortium led by Spicejet promoter Ajay Singh came second with their bid of Rs 15,000 crore.
A consortium led by Spicejet promoter Ajay Singh came second with his bid of Rs 15,000 crore. The reserve price for the bid was set at Rs 12, 906 crore.
The announcement was made by the secretaries of DIPAM and the ministry of civil aviation.
It added that the media would be apprised of the development pertaining to the disinvestment and when it is finalised.
The five candidates are required to make presentations on their technical proposal before DIPAM's selection committee on September 30, the circular stated
Announcing a new PSU privatisation policy, PM Modi said that all PSUs except those in four strategic sectors will be privatised.
Kerala Finance Minister Thomas Isaac says that the state government's position is very clear: since we have provided the land for the airport, we have the rightful claim over its operations and management.
Bharatiya Mazdoor Sangh says that workers were affected the most by any change, privatisation would mean job losses on a large scale and a dearth of quality jobs.
Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.
Finance Minister Nirmala Sitharaman said insurance behemoth LIC will be listed as part of the government disinvestment initiative.
The government is readying the bid document to sell off its entire stake in the national carrier.
The government has approved sale of its entire stakes in blue-chip oil firm BPCL, shipping firm SCI and cargo mover Concor.
The government has decided to almost completely exit the airline saying the financial support being provided to the airline could be put to better use
The Ministry of Railways has envisaged corporatisation of its seven production units and associated workshops under one entity called the Indian Railway Rolling Stock Company.
Slamming the move to corporatize railways' production units, UPA chairperson Sonia Gandhi accused the government of selling the country's assets to private players at a throwaway price.
The Air India Specific Alternative Mechanism (AISAM) has given the Central government a green light for the disinvestment process in Air India.
Chairperson of Public Accounts Committee (PAC) Adhir Ranjan Chowdhury addresses the conference to mark centennial year celebration of PAC, in the Central Hall of Parliament House, in New Delhi. Lok Sabha Speaker Om...PTI Photo/Arun Sharma
Expelled AIADMK leader VK Sasikala pays tribute to J Jayalalithaa on her fifth death anniversary, near Marina Beach, in Chennai.PTI Photo/R Senthil Kumar
Devotees wait in queues outside the Sri Krishna Janambhoomi temple in Mathura. Security has been tightened in Mathura after Akhil Bharat Hindu Mahasabha announced its plan to perform ‘jalabhishek’ at Shahi Eidgah in...PTI Photo
Lok Sabha Speaker Om Birla delivers valedictory address during the conference to mark centennial year celebration of Public Accounts Committee (PAC), in the Central Hall of Parliament House, in New Delhi.PTI Photo/Arun Sharma
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Young, brash and little-known artistes are using hip-hop as an outlet to speak up and speak out.
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Family from UP village forced to run around to complete post-death official paperwork and even last rites.
While everyone is going gaga over actress Katrina Kaif in the revamped version of 'Tip Tip Barsa Pani', the replacement of Raveena Tandon does point towards the problem of sexism and ageism in the Indian film industry
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