Financial Daily from THE HINDU group of publications
Tuesday, Jan 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 20, 2004 |
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Shipping Markets - IPOs Industry & Economy - Disinvestment DCI public offer plan hastens policy change P. Manoj
New Delhi , Jan. 19 THE public offer of 20 per cent Government equity constituting 56 lakh shares in Dredging Corporation of India (DCI) that is slated to hit the market either by February end or early March has triggered an early change in the national dredging policy. The current policy was set to expire on March 31, 2004. The Disinvestment Ministry had sought clarifications from the Shipping Ministry on the dredging policy following queries raised by analysts and the Government-appointed book runners Enam Securities and Kotak Mahindra Capital for the book-built public offer. A senior Disinvestment Ministry official, Mr P.V. Bhede had recently met the Shipping Secretary, Mr D.T. Joseph, to discuss the dredging policy in the midst of confusing signals given by various stakeholders in the dredging sector. "A clarity on the policy would enable the Government in finalising the draft prospectus for filing with SEBI by February 22," a Disinvestment Ministry official said. It will also have a big impact when the Government fix the price band for the public issue.
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