ANSWER: Department of Investment and Public Asset Management
Explanation:
Finance Ministry has set up an Investor Facilitation Platform that will provide information about stocks of public sector units.
Set up by the Department of Investment and Public Asset Management (DIPAM), the platform will be an interactive forum for all stakeholders, including investors, investment banks, law firms, public sector units and administrative ministries that are involved in stake sales.
Developed and maintained by PRIME Database, all users will have to register on the facilitation platform, which will then be authorised by DIPAM.
According to an official, different categories of users will get different kinds of information. But the overall objective is to make them more in touch with PSU disinvestment issues.
Investors will get features like price movements, shareholding patterns and financial results.
For other intermediaries likes investment banks and law firms, the facilitation platform is expected to give them closer access and better interaction with DIPAM to work on ongoing and upcoming stake sales.
DIPAM is also likely to soon launch a PSU information platform that would provide investors with details on listed PSUs including their daily prices, financial and annual results, corporate announcements and also details of the Board of Directors.
Investors should be aware about their investments. This will also bring more accountability in the functioning of PSUs.
The move comes at a time when DIPAM is expected to raise INR 72,500 crore from disinvestment proceeds this fiscal, including INR 46,500 crore from minority stake sales.
