The Finance Ministry is planning an initial public offering to sell up to 25 percent stake in telecom engineering and consultancy firm Telecommunications Consultants India Ltd. in the January-March quarter of the current fiscal year, an official said.
The ministry is planning to list four Central Public Sector Enterprises and work on launching the IPO of TCIL has begun, the official added.
The ministry will soon approach the Cabinet for securing approval for up to 25 percent stake dilution, the official told PTI.
TCIL, under the administrative control of the Department of Telecommunications, was set up in 1978. The company had a turnover of Rs 1,205 crore and profit after tax of Rs 70.8 crore in 2016-17 fiscal. – Bloomberq Quint