Proposals under Implementation

 Maruti Udyog Limited

On 21.12.2006 the Government has decided to sell its residual 10.27% holding in Maruti Udyog Limited(MUL) to Indian Public Sector Financial Institutions, Indian Public Sector Banks and Indian Mutual Funds. To implement the decision an Inter-Ministerial Group(IMG) has been constituted. The Advisers for the transaction have also been appointed. The 3rd meeting of the IMG was held on 15th February, 2007. An advertisement for inviting EOIs was got published in the Financial Times and The Economic Times on 22nd February, 2007. The last date for receipt of EOIs was 9th March, 2007. On 16.3.2007 it was decided that the process of disinvestment be put on hold till 31st March, 2007 and be resumed in April, 2007.

The realization based on the National Stock Exchange closing price of MUL shares as on 6.12.2006 had been estimated at Rs.2793.60 crore.

                                                       IPOs of Power Companies

Three power companies, viz., Rural Electrification Corporation Limited (REC), Power Grid Corporation of India Limited (PGCIL) and National Hydro-electric Power Corporation Limited (NHPC), propose to make public offerings of equity equal to 10% each of their pre-issue paid-up equity capital. Government has decided on 8.2.2007 to piggy-back with an ‘Offer for Sale’ of 10%, 5% and 5% respectively out of its shareholding. The realisation based on book value has been estimated at Rs. 1651 crore. The actual realization is expected to be higher and would depend on the prevailing market condition.