Arunish Chawla, Secretary of the Department of Disinvestment and Public Asset Management (DIPAM), on Monday said to CNBC-TV 18 that defence and insurance companies could see various forms of minority stake sales through multiple routes, including offers for sale (OFS) and IPOs.
Speaking at Network18’s Reforms Reloaded event, Chawla said he is keeping his “fingers crossed” that the department will exceed its disinvestment target of ₹47,000 crore for the current financial year. He highlighted that there will be “more OFSs, few IPOs and more value creation opportunities for the small retail investor.”
“You can expect honest gratitude from us to the small investor,” Chawla added.
The DIPAM Secretary also expressed optimism that the much-awaited disinvestment of IDBI Bank will be completed by the end of FY25.