ECB proceeds for acquisition of shares under the Government’s disinvestment programme of PSUs - Clarification

ECB proceeds for acquisition of shares under the Government’s disinvestment programme of PSUs - Clarification

ECB proceeds is permitted to be used in the first stage acquisition of shares in the disinvestment process and also in the mandatory second stage offer to the public under the Government’s disinvestment programme of the public sector undertakings (PSUs) shares.


2. It is clarified that ECB is allowed for all subsequent stages of acquisition of shares in the disinvestment process under the Government’s disinvestment programme of the PSU shares; in other words, facility of ECB is available for multiple rounds of disinvestment of PSU shares under the Government disinvestment programme.

A.P. (DIR Series) Circular No. 57 \September 30, 2013