Disinvestment of public sector companies is back on track after the Covid-induced setbacks, and DIPAM is aiming to conclude a host of transactions by March-end, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on Wednesday. He also said the mega initial public offering of Life Insurance Corporation is expected by the end of the current fiscal, and the Govt is looking to collect `50,000 crore as dividend from state-run companies. Stressing that privatisation of Air India, BPCL, Shipping Corp of India, Pawan Hans, BEML and Neelachal Ispat Nigam Ltd would be completed this year, Pandey said change of ownership and control would boost the valuations of these companies. “COVID actually hit us very badly... It is much easier to do a market transaction, much more difficult to do a strategic sale where the bidders will actually take control of the company and the due diligence process is extremely rigorous,” he said.
