MUMBAI, DEC 24: TickerNews takes a close look at divestment of government-owned companies and the factors that play a key role in the process. This story, filed twice every week, will keep you updated on the latest on divestment.NEWS THIS WEEK--------------SAIL says FPO will happen by early Feb DEC 23: Steel Authority of India Ltd plans to hit stock markets with its follow-on share offer early February, Chairman C.S. Verma said in an interview with a broadcast station. The state-run steel producer will file its prospectus for a follow-on share sale with Securities and Exchange Board of India in two weeks, he said. MMTC divestment likely in FY12, trade secretary says DEC 23: Government will likely divest its stake in MMTC Ltd in 2011-12 (Apr-Mar), Trade Secretary Rahul Khullar said. MMTC, with a turnover of over $7 billion, is India's largest non-oil importer. Government currently holds 99.3% equity in the company.Power Finance Corp FPO likely in FY12 DEC 23: State-run Power Finance Corp's follow-on public share offer is likely to hit the stock markets next financial year, said Union Minister of State for Power Bharat Solanki. The power ministry has proposed a disinvestment of 5% of the government stake in the company, as well as 15% fresh equity issue by the company, through the FPO.ONGC FPO in March, but no decision yet on Indian Oil share sale DEC 21: Government is yet to decide on the timing of Indian Oil Corp Ltd's proposed share sale even though it has finalised plans for follow-on public offer of shares for Oil and Natural Gas Corp Ltd, Oil Secretary S. Sundareshan said. The Rs 130 billion public issue of ONGC is slated to come in March, he said. GOING, GOING...GONE------------------- Following are some of the companies on the government's disinvestment radar so far. The list has been compiled from news reports on Web sites and newspapers: AIRPORTS AUTHORITY OF INDIA LTD - Civil Aviation Minister Praful Patel said the government is planning an initial public offer of equity shares of the company. ANDREW YULE & CO LTD - Heavy Industries Minister Vilasrao Deshmukh called for disinvestment in the company. The Kolkata-based state-owned company has decided to sell stake in group companies Phoenix Yule Ltd, DPSC Ltd and Tide Water Oil Co (India) Ltd. BHARAT HEAVY ELECTRICALS LTD - Government has indicated it may sell 10% stake in the company. HMT BEARINGS LTD - Government said it will find a strategic partner for the company. ITI LTD - Government has invited private players to take majority stake in the company's three factories. So far, Huawei and Alcatel Lucent have indicated interest in picking up stake. KUDREMUKH IRON ORE CO LTD - Government mulling strategic partnership with iron ore miner NMDC Ltd. RAIL INDIA TECHNICAL AND ECONOMIC SERVICES LTD - Company expressed its unwillingness to go for follow-on share issue as it does not require additional funds. RASHTRIYA ISPAT NIGAM LTD - Company figures among public sector undertakings earmarked for up to 25% disinvestment. TYRE CORP OF INDIA LTD - This is another public sector undertaking where the government is mulling stake sale. DIVESTMENT SINCE MAY 2009------------------------- Following is a summary of disinvestment of state-owned companies carried out by the United Progressive Alliance-led government in its second term that began in May:>> MOIL LTD, formerly, Manganese Ore India Ltd, sold 33.6 million shares in the price band of Rs 340-375 a share via its initial public offer. The issue was subscribed 54.6 times and the shares listed on the stock exchanges on Dec 15 up 56% from the issue price of Rs 375 a share. >> SHIPPING CORP OF INDIA LTD'S follow-on public offer, in the price band of Rs 135-140 a share, was subscribed 4.92 times with the retail individual segment subscribed 6.56 times. The issue price has been fixed at Rs 140 a share.>> COAL INDIA LTD'S initial public offer in the price band of Rs 225-245 per share to raise Rs 150 billion was subscribed 15.28 times. The issue price was set at the top end of the price-band at Rs 245/share. The shares listed on the stock exchange on November 4.>> ENGINEERS INDIA LTD's follow-on public offer of 33.69 million shares was subscribed 13.35 times. The issue price was set at Rs 290 a share.>> SJVN LTD sold 415 million shares through an IPO in the price band of Rs 23-26 a share. The IPO was subscribed 6.6 times and the issue price was set at Rs 26 a share. The shares listed on the stock exchanges on May 20.>> NMDC LTD sold 332.24 million shares through a follow-on share issue in the price band of Rs 300-350 a share in March. The issue was subscribed 1.24 times. The issue price was set at Rs 300 a share.>> RURAL ELECTRIFICATION CORP LTD sold 171.73 million shares through a follow-on offer in February, which was subscribed 3.12 times. Government had set floor price for the issue at Rs 203 a share.>> NTPC LTD's follow-on public issue had 412.27 million shares on offer, and the issue was subscribed 1.2 times in February. The FPO price was set at Rs 201 a share.>> OIL INDIA LTD offered 26.45 million shares in the price band of Rs 950-1,050 a share, and the issue was subscribed 30.77 times. The issue price was set at Rs 1,050 a share. The shares were listed on stock exchanges on Sep 30.>> NHPC LTD issued 1.68 billion shares in the price band of Rs 30-36 a share, and the issue was subscribed 23.53 times. Subsequently, the company set the price at Rs 36 a share. The shares were listed on stock exchanges on Sep 1. Compiled by Nachiket KelkarFiled by Madhurima Chowdhury