Question : On March 22, 2021, the Department of Investment and Public Asset Management announced the completion of the disinvestment process at TCL. What percentage of the government had a stake in Tata Communications Limited ?
(a) 26.12%
(b) 45.20%
(c) 20.80%
(d) 30.00%
Ans.(a)
Related facts
- On March 22, 2021, the Department of Investment and Public Asset Management announced the completion of the disinvestment process at TCL.
- It is notable that the government had a 26.12% stake in Tata Communications Limited.
- It has been sold at rs 8,846 crore.
Disinvestment process
- The government has divested its holding through two steps, by selling 16.12% in TCL, previously called VSNL, through an offer for sale at Rs 5,457 crore, followed by sale of 10% stake to strategic partner at offer for sale discovered price for Rs 3,389 crore.
VSNL (Videsh Sanchar Nigam Limited)
- The public sector company VSNL was privatized in 2002.
- The company was renamed TCL(Tata Communications Ltd. ) after this strategic disinvestment.
By — Pankaj Pandey.