8216;Hindustan Copper IPO likely by Sep-end8217;

The government is already working on the initial public offer IPO of Rashtriya Ispat Nigam Ltd RINL and has launched roadshows for it. The 10 per cent IPO of RINL could fetch the exchequer around Rs 2,500 crore.

As per a note prepared by the Finance Ministry,DoD is looking at 10 per cent stake sale in HCL. The company will also issue fresh shares.

At the current market price,the government could mop up over Rs 2,000 crore through stake sale in HCL. The government holds 99.59 per cent stake in HCL.

DoD is likely to divest stake in the listed PSUs through the institutional placement or offer for sale route. The government has set a target of Rs 30,000 crore from disinvestment this fiscal.

It had managed to raise only about Rs 14,000 crore through disinvestment last fiscal against the Rs 40,000 crore target.

Mutual Funds Check for top funds