FM’s plan could bring Rs 1,52,519 cr to D-street
NEW DELHI: The finance minister Pranab Mukherjee’s Budget proposal to deepen markets by bringing promoters’ stake in listed companies below 75% may leave markets dealing with a flood of equity issuances.
If the proposal comes through, listed companies could be expected to raise as much as Rs 1,52,519 crore from the capital market, with public sector stalwarts such as bullion trader MMTC, power generator NTPC and the country’s largest iron and steel producer SAIL expected to lead the fray.
A SundayET analysis of BSE 500 companies shows that as many as 57 companies have promoter shareholding above 75% and would be required to offer shares in to the market to comply with the new norms. Of these, 18 are public sector undertakings (PSUs) and 39 firms are in the private sector.
While the numbers of public sector companies may appear to be less than half of the private companies, these companies will nevertheless account for the bulk of the money raised. Of the Rs 1,52, 519 crore that may be raised, about Rs 1,30,961 crore will be accounted for by PSUs.
source: Economic times
Tags: bse, budget, dalal street, FM, pranab mukherjee
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