Divestment activity to continue in March quarter

New Delhi, 13 DecemberWith the Centre aiming to substantially overshoot its original disinvestment target for 2017-18, much activity is planned for the rest of the financial year.It plans to complete two mergers among state-owned companies, three more of Initial Public Offers of equity (IPOs), three Offers for Sale (OFSs) and a second tranche of its Bharat-22 exchange traded fund (ETF).Officials are confident of completing the takeover by Oil and Natural Gas Corporation of Hindustan Petroleum in the next two months. That alone will garner around Rs 30,000 crore for the exchequer. State-owned construction company NBCC bought Hindustan Steelworks Construction earlier this year; it might buy another smaller construction and engineering unit in the state sector, Business Standard has learnt. The candidates are Hindustan Prefab, Engineering Projects India, NPCC and HSCC. It is learnt one of these could be taken over by NBCC this financial year (it ends March 31)."There has been massive ...