PSUs must improve financial health before IPOs: Shourie

The public sector units (PSUs) should improve their financial health and become attractive to shareholders before going in for public offerings, Union Disinvestment Minister Arun Shourie said here. Speaking to reporters at the sidelines of a meeting organised by the CII, Eastern Region, Shourie said if the PSUs improved their financial conditions that would make themselves attractive, “then they would be able to fetch more when they go in for IPOs or for new issues.

The government would also be benefitted through this process.” He said the government was selling its 34 per cent stake in HPCL. A data room will be set up for this oil company in the country. “The work is in full swing,” he said.