Govt gets Rs 293 cr from SPMCIL share buyback

The government has got Rs 293 crore from buyback of shares by state-run Security Printing and Minting Corporation. In a tweet, Secretary DIPAM said, "DIPAM (Department of Investment and Public Asset Management) today completed another transaction. Buyback of about 7.67 crore shares by Security Printing and Minting Corporation of India yielded about Rs 293.45 cr to the Government".

With this, the disinvestment proceeds in current fiscal touched Rs 35,138 crore. In the Revised Estimates, the government has pegged disinvestment target at Rs 65,000 crore. Security Printing & Minting Corporation of India Ltd (SPMCIL) is a wholly-owned government company under the administrative control of Department of Economic Affairs.

It is engaged in the production of currency and bank notes, security paper, postal stamps, security inks, and commemorative coins.