Kolkata: The proposal for anchor investors is being kept open by the government for the forthcoming public offer by public sector undertakings (PSUs), though it was dropped in the case of the mega initial public offer (IPO) of Coal India Ltd (CIL), reports PTI.
"We are not dropping the anchor investor plan for the forthcoming public offers. We will take a decision depending on the situation," divestment secretary Sumit Bose told PTI.
Asked about the reason for dropping the anchor investor plan for the country largest initial public offer, CIL, Mr Bose said, "it was done after we found extremely positive response from both foreign and domestic institutional investors and the need was not felt."
Sources in the government had earlier said that the plan for anchor investor was dropped due to lack of transparency in the allotment process.
The government has lined up public offers in Power Grid Corporation, Shipping Corporation, Manganese Ore India, Hind Copper, SAIL, Indian Oil and ONGC.
It aims to garner Rs40,000 crore from these divestments during the current fiscal.
Global outsourcing services company Aegis, said it will acquire remaining shares of its joint venture business process outsourcing (BPO) Actionline in Argentina. No financial details were provided.
Aegis said it signed an agreement with Y&R Inversiones Publicitárias S.A. and its business partner to buy their stake in Actionline.
Actionline is one of the largest BPOs in Argentina spread across seven centres in five cities. It is domestic market serves telecom, banking, insurance, and energy clients in the region. With this agreement, Aegis aims to expand its reach Latin America, said the company in a statement.
Actionline's ongoing operations in Chile and Brazil are not impacted by this transaction. Actionline marks the 16th acquisition for Aegis over the last five years.
Construction company RPP Infra Projects Ltd said it received an approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The company proposes to deploy the net proceeds of the issue for investment in special purpose vehicles (SPVs) for build, operate and transfer (BOT) projects, meeting capital expenditure requirement, funding margin requirement for working capital and meeting general corporate expenses.
The company proposes to enter the capital markets with a public issue of 65 lakh shares of Rs10 each through a book building process. The issue comprises a fresh issue of 61 lakh shares by RPP Infra Projects and an offer for sale of 4 lakh equity shares by the promoters. The issue will constitute 28.8% of the post issue paid-up capital of the company and the net issue will constitute 27% of the post issue paid-up capital of the company. VC Corporate Advisors Pvt Ltd, Kolkata, is the book running lead manager to the issue.