Hind Copper disinvestment rescued by LIC and PSU banks

In the direction of achieving Rs 30,000 crore target for fiscal 2012-13 by disinvesting PSUs, the government of India managed to yield Rs 800 crore by selling shares of Hindustan Copper. The sail was mainly on support from the Life Insurance Corporation and public sector banks. The offer for sale (OFS) saw lukewarm response from large foreign institutional investors and private domestic investors like mutual funds.

Month: Current Affairs - November, 2012