The Centre has stepped up its disinvestment programme by reducing its stake in six Central Public Sector Enterprises (CPSEs) in the current financial year (2026-27). So far, it has raised Rs 18,561 crore through disinvestment, already surpassing last year's collection of Rs 16,885 crore.
The government is also in the process of divesting a 5% stake in Cochin Shipyard Ltd through an Offer for Sale (OFS), a transaction expected to fetch around Rs 1,900 crore. The Centre currently holds a 67.91% stake in the Mini Ratna company.
All stake sales in the current financial year have been executed through the OFS route. The government sold a 2% stake in Coal India, raising around Rs 5,500 crore; a 6% stake in NHPC Ltd for Rs 4,357 crore; and a 5% stake in GIC Re for Rs 3,090 crore. Other CPSEs in which the government has diluted its stake this fiscal include Indian Railway Finance Corporation (IRFC) Ltd and NLC India Ltd.
The government's strategic disinvestment pipeline also remains active, although progress has been slow. The expression of interest (EoI) process has been completed for the strategic sale of six CPSEs—IDBI Bank, NMDC Steel, HLL Lifecare, Projects & Development India Ltd (PDIL), BEML and Shipping Corporation of India (SCI)—with these transactions now moving to the next stage.
Finance Ministry officials said the strategic sale of IDBI Bank, which had been put on hold due to valuation concerns and limited investor interest, is likely to be revived soon.
Other CPSEs lined up for strategic disinvestment include Container Corporation of India (CONCOR), Rashtriya Ispat Nigam Ltd (RINL) and Air India Engineering Services Ltd (AIESL), among others.
Finance Ministry sources said senior officials are holding weekly meetings with the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE) to explore additional avenues for resource mobilisation. The government is confident that DIPAM will not only achieve the Budget target of Rs 80,000 crore from disinvestment in FY27 but could also surpass it.
Separately, the government recently approved Skymap Pharmaceuticals' Rs 121-crore bid to acquire a 100% stake in Indian Medicines Pharmaceutical Corporation Ltd (IMPCL), a central PSU under the Ministry of Ayush.
The sale of IMPCL marks the third strategic disinvestment completed under the Narendra Modi-led NDA government. The earlier two strategic sales were Air India, acquired by the Tata Group, and Neelanchal Ispat Nigam Ltd, which was acquired by a consortium led by Tata Steel.