• Home
  • Privacy Policy
  • About Us
  • Contact Us
Friday, February 22, 2019
Smart City
  • Home
  • News
    • Waste Management
    • Urban Mobility
    • Roads and Highways
    • IT & eGovernance
    • Swachh Bharat Mission
    • Housing
    • Ports
    • Power and Energy
  • Conferences
    • Smart City Conferences
    • Videos
  • Newsletter
    • Weekly Newsletter
    • Subscription
  • About Us
  • Contact Us
  • Write For Us
No Result
View All Result
  • Home
  • News
    • Waste Management
    • Urban Mobility
    • Roads and Highways
    • IT & eGovernance
    • Swachh Bharat Mission
    • Housing
    • Ports
    • Power and Energy
  • Conferences
    • Smart City Conferences
    • Videos
  • Newsletter
    • Weekly Newsletter
    • Subscription
  • About Us
  • Contact Us
  • Write For Us
No Result
View All Result
Smart City
No Result
View All Result

Cabinet approves divestment of 15% NBCC stake

cityNetwork by cityNetwork
July 27, 2016
in Narendra Modi, News
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Cabinet-approves-Pradhan-Mantri-Ujjwala-YojanaThe Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the disinvestment of 15 per cent paid up equity of National Buildings Construction Corporation Limited (NBCC) out of Government of India’s 90 per cent shareholding.

It would result in estimated receipts of Rs1,706 crore approximately to the government. However, the actual realization amount will depend upon the market conditions and the investor interest prevailing at the time of actual disinvestment.

The disinvestment would further broad-base NBCC’s shareholding and enhance the disinvestment receipts for making them available to the government for utilization as per disinvestment policy. In order to inculcate a sense of belongingness amongst the employees of NBCC, it has also been decided to allot additional shares to the eligible and willing employees at a discount of 5 per cent to the issue/discovered (lowest cut off) price of the OFS.

NBCC was incorporated on 5th November, 1960 as a wholly owned Government of India enterprise under the administrative control of the Ministry of Urban Development with the objective of becoming a leading company in the field of construction, engineering and project management consultancy services.

The NBCC IPO (Initial Public Offer) was launched in March, 2012, when the Government of India divested 10 per cent paid up equity capital of NBCC out of its 100 per cent  shareholding and got the company listed on the stock exchanges. The Government realised Rs124.97 crore as proceeds towards the share sale.

Tags: CabinetCabinet Committee on Economic AffairsGovernment of IndiaIPOMinistry of Urban DevelopmentNarendra ModiNational Buildings Construction Corporation LimitedNBCCOFS

Related Posts

AI
News

Maharashtra CM, ABB CEO discuss ways to partner on AI

February 21, 2019
Dharavi project
News

Abu Dhabi’s Royal Family to fund Dharavi’s revamp project

February 18, 2019
Adani Data Centre and Tech Park to come up at Visakhapatnam
News

Adani Data Centre and Tech Park to come up at Visakhapatnam

February 18, 2019
World Bank sanctions $40 million loan for Shimla’s water supply
News

World Bank sanctions $40 million loan for Shimla’s water supply

February 18, 2019
Bhubaneswar wins Best Digital Innovator Award for 2018
News

Bhubaneswar wins Best Digital Innovator Award for 2018

February 18, 2019
Patna Metro
News

Patna to have its own Metro at a cost of Rs 13,365 crores

February 15, 2019
Next Post
Netherlands will help UP manage its urban affairs better

Netherlands will help UP manage its urban affairs better

  • Trending
  • Popular
  • Latest
Rajiv Talreja, MD, Quantum Leap

The Wakeup Call To Digitisation And Modernisation: Rajiv Talreja, MD, Quantum Leap

January 31, 2019
E-mobility will transform commuting in the future

E-mobility will transform commuting in the future

January 31, 2019
Parth_Mehta

Smart Cities Mission: Realty can make it reality !

January 30, 2019
Ravi-Raj

IT infrastructure initiatives for 2019: Ravi Raj, Netrack

February 12, 2019
PEBs – Time & Cost Efficient Solution for Aesthetic Structures

Lucknow SEZ – Vision for IT City

19472
Solid Waste Management – Essential for Smart Cities

Solid Waste Management – Essential for Smart Cities

19308
Maharashtra Chief Minister flagged off India’s first Monorail

Maharashtra Chief Minister flagged off India’s first Monorail

17520
Robust Prospects for Pipe Manufacturers in Oil & Gas Sector

Robust Prospects for Pipe Manufacturers in Oil & Gas Sector

15432
AI

Maharashtra CM, ABB CEO discuss ways to partner on AI

February 21, 2019
Dharavi project

Abu Dhabi’s Royal Family to fund Dharavi’s revamp project

February 18, 2019
Adani Data Centre and Tech Park to come up at Visakhapatnam

Adani Data Centre and Tech Park to come up at Visakhapatnam

February 18, 2019
World Bank sanctions $40 million loan for Shimla’s water supply

World Bank sanctions $40 million loan for Shimla’s water supply

February 18, 2019
Smart City

About Us

Smart city portal was started with an aim to provide latest news information about the smart city mission of the Government of India. Founded in 2015, the portal enjoys the distinction of being India's first integrated website on smart cities of India. The website features stories on the economic growth of Indian cities where the government is trying to improve the quality of life of people by enabling local development and harnessing technology as a means to create smart outcomes for citizens.

Follow Us

Currently Playing

Dr Raman Singh, Hon’ble Chief Minister of Chhattisgarh at Smart City Summit, Naya Raipur

Dr Raman Singh, Hon’ble Chief Minister of Chhattisgarh at Smart City Summit, Naya Raipur

00:11:55

Smart City Summit, Surat 2018: Vijay Rupani, Hon’ble Chief Minister, Gujarat

00:09:11

Recent News

AI

Maharashtra CM, ABB CEO discuss ways to partner on AI

February 21, 2019
Dharavi project

Abu Dhabi’s Royal Family to fund Dharavi’s revamp project

February 18, 2019
Adani Data Centre and Tech Park to come up at Visakhapatnam

Adani Data Centre and Tech Park to come up at Visakhapatnam

February 18, 2019
  • Home
  • Privacy Policy
  • About Us
  • Contact Us

© 2019 Elets Technomedia Pvt Ltd ALL RIGHTS RESERVED

No Result
View All Result
  • Home
  • Privacy Policy
  • About Us
  • Contact Us

© 2019 Elets Technomedia Pvt Ltd ALL RIGHTS RESERVED

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.