DIPAM Secretary tweeted that the dividend is inclusive of special dividends acquired from the sale of its stake in Nulaigarh Refinery in March, this year.
The share purchase agreement stipulates that the buyer has agreed to the terms set out by the target company for completing the transaction or acquisition.
Tata Sons had won the bid for acquiring 100 per cent stake in the national carrier, last week. A consortium led by Spicejet promoter Ajay Singh came second with their bid of Rs 15,000 crore.
A consortium led by Spicejet promoter Ajay Singh came second with his bid of Rs 15,000 crore. The reserve price for the bid was set at Rs 12, 906 crore.
The announcement was made by the secretaries of DIPAM and the ministry of civil aviation.
It added that the media would be apprised of the development pertaining to the disinvestment and when it is finalised.
The five candidates are required to make presentations on their technical proposal before DIPAM's selection committee on September 30, the circular stated
Announcing a new PSU privatisation policy, PM Modi said that all PSUs except those in four strategic sectors will be privatised.
Kerala Finance Minister Thomas Isaac says that the state government's position is very clear: since we have provided the land for the airport, we have the rightful claim over its operations and management.
Bharatiya Mazdoor Sangh says that workers were affected the most by any change, privatisation would mean job losses on a large scale and a dearth of quality jobs.
Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.
Finance Minister Nirmala Sitharaman said insurance behemoth LIC will be listed as part of the government disinvestment initiative.
The government is readying the bid document to sell off its entire stake in the national carrier.
The government has approved sale of its entire stakes in blue-chip oil firm BPCL, shipping firm SCI and cargo mover Concor.
The government has decided to almost completely exit the airline saying the financial support being provided to the airline could be put to better use
The Ministry of Railways has envisaged corporatisation of its seven production units and associated workshops under one entity called the Indian Railway Rolling Stock Company.
Slamming the move to corporatize railways' production units, UPA chairperson Sonia Gandhi accused the government of selling the country's assets to private players at a throwaway price.
The Air India Specific Alternative Mechanism (AISAM) has given the Central government a green light for the disinvestment process in Air India.
India's Pusarla V. Sindhu celebrates after scoring a point against Japan's Akane Yamaguchi during their women's singles badminton semifinal match at the BWF World Tour Finals in Nusa Dua, Bali, Indonesia.AP Photo/Dita Alangkara
A healthcare worker collects swab sample of a woman for COVID-19 test in view of the threat of the new variant (Omicron) of the virus, at a railway station in Patna.PTI Photo
Beach side temporary shops covered by polythene sheets in the wake of Cyclone Jawad, in Puri.PTI Photo
Prime Minister Narendra Modi with Uttarakhand CM Pushkar Singh Dhami and others during BJP election campaign rally, ahead of state Assembly polls in 2022, in Dehradun.PTI Photo
Prime Minister Narendra Modi addresses during a BJP election campaign rally, ahead of state Assembly polls in 2022, in Dehradun.PTI Photo
Young, brash and little-known artistes are using hip-hop as an outlet to speak up and speak out.
Aamir Shaikh aka Shaikhspeare traces talks about the genre that uses music as a means to dissent.
Family from UP village forced to run around to complete post-death official paperwork and even last rites.
While everyone is going gaga over actress Katrina Kaif in the revamped version of 'Tip Tip Barsa Pani', the replacement of Raveena Tandon does point towards the problem of sexism and ageism in the Indian film industry
Australia winning the T20 World Cup for the first time has been timely as they host the next edition at their own backyard in 2022.
As per the Observer Research Foundation, close to 250 million children in India were adversely affected due to school closures due to the early lockdowns imposed by the government in response to Covid-19.
India's cricket administrators showed more drive to boost BCCI's coffers rather than take care of players' welfare during pandemic times.