Govt plans to list mini-ratnas

After the Navratna companies, it may be the turn of the mini-ratna companies to make the public richer. The government is planning discussions with 34 unlisted mini-ratna companies to get them listed on the stock exchanges and unlock their value.

The list of companies with which the government plans to initiate talks include Bharat Sanchar Nigam (BSNL), Coal India (CIL) and Rashtriya Ispat Nigam (RINL). Rural Electrification Corporation (REC) and Oil India Corporation (OIC) have announced plans to tap the market, while RINL is in the process of firming up its plans.

The move is in line with the UPA government's National Common Minimum Programme (NCMP) that allows the Centre to encourage central public sector enterprises (CPSEs) to enter the capital market. Prime Minister Manmohan Singh has also stated that it would be useful for more CPSEs to be listed on stock exchanges. This relaxation would make it easier for companies like BSNL and CIL in going for listing.

Sources ET