Department of Investment and Public Asset Management

What Department of Investment and Public Asset Management does

The Department of Investment and Public Asset Management (DIPAM) is a department under the Ministry of Finance, Government of India, established to manage all matters relating to central government investments in equity, including the disinvestment of Central Public Sector Enterprises (CPSEs). Its three core service areas are strategic disinvestment (full or substantial sale of government equity with transfer of management control), minority stake sales (partial equity sales through IPO, FPO, OFS, and buyback without management transfer, executed via SEBI-approved methods and BSE/NSE exchange platforms), and capital restructuring (dividend policies, buyback decisions, capital allocation). The department's mandate is governed by the New Public Sector Enterprise Policy for Atma Nirbhar Bharat notified on 4 February 2021, with multi-layer inter-ministerial decision-making involving IMG, CGD, and Alternative Mechanism, and NITI Aayog recommendations funneled through CCEA approval.

DIPAM's underlying technology is a web-based platform (dipam.gov.in) that serves as a public information and tracking portal for CPSE market capitalization, dividend receipts, disinvestment proceeds, asset monetization, investor information, tenders, parliamentary matters, and RTI disclosures. A CPSE Market Capitalization Dashboard provides real-time tracking of government equity value across listed CPSEs and Public Financial Institutions, displaying GOI shareholding percentages, market capitalization, and closing prices derived from BSE market feeds. Supporting data services include daily CPSE/PFI market updates, dividend receipts tracking, disinvestment receipts tracking, and total receipts aggregation. Historical investment vehicles CPSE-ETF and Bharat-22 ETF were used to monetize government shareholdings since 2016-17, although the equity ETF window has now been paused.

DIPAM is not a commercial entity. Its principal stakeholder is the Government of India itself (Ministry of Finance), for which it manages CPSE equity portfolios and ancillary investment administration; secondary constituencies include CPSEs that undergo restructuring or disinvestment processes, and retail and institutional investors participating in OFS, IPO, FPO, and ETF offerings. It does not sell products or services at commercial pricing; instead, it generates fiscal inflows through dividend receipts (Rs. 74,128.63 crore in FY24-25; Rs. 78,438.07 crore in FY25-26), disinvestment proceeds, and asset monetization, all of which are credited to the National Investment Fund (NIF). Operating geographies are confined to India. The department is led by Secretary Arunish Chawla, with Finance Minister Nirmala Sitharaman and Minister of State for Finance Pankaj Chaudhary providing ministerial oversight.

Name

Department of Investment and Public Asset Management

Legal name

Department of Investment and Public Asset Management, Ministry of Finance, Government of India

Website

https://dipam.gov.in

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

DIPAM is a department under India's Ministry of Finance that manages central government equity investments in Central Public Sector Enterprises through strategic disinvestment, minority stake sales, and capital restructuring on behalf of the Government of India.

Ownership category

akta.pro rank

Product category

Public Asset Management

NAICS

Investment Banking and Securities Intermediation (52315), Investment Banking and Securities Intermediation (523150), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro industry

PRIMARYFSACAAAG

Secondary Offerings & Share Sales (Secondary Placements)

Financial & Insurance/Capital Markets & Securities/Equity Capital Markets (ECM)

SECONDARYFSACAKAD

Dividend, Interest & Distribution Services

Financial & Insurance/Capital Markets & Securities/Corporate Actions & Issuer Services

SECONDARYFSAFAGAI

Corporate Actions Processing & Entitlements Settlement (CSD-Run)

Financial & Insurance/Financial Exchanges & Market Infrastructure/Central Securities Depositories (CSDs) & Securities Settlement Systems

Keywords

• Public asset management
• Government equity divestment
• Strategic disinvestment
• CPSE equity management
• Minority stake sales

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Distribution channels3 records

Marketing channels5 records

Core offering

DIPAM manages all Central Government investments in equity and handles the disinvestment of Central Public Sector Enterprises (CPSEs) through three core areas: Strategic Disinvestment (full or substantial sale of Government shareholding with transfer of management control), Minority Stake Sales (offer for sale, IPO, FPO, ETF, buyback without transfer of control), and Capital Restructuring (dividend policies, capital allocation, and buyback decisions). It facilitates these transactions through India's regulated capital markets (BSE/NSE, SEBI-regulated IPO/FPO) and supports them with market data, dividend and disinvestment receipts tracking, and an internship programme.

Product overview

DIPAM (Department of Investment and Public Asset Management) is a department under the Ministry of Finance, Government of India, responsible for managing Central Government investments in equity. It operates three core service areas: Strategic Disinvestment (full or substantial sale of Government CPSE holdings with management transfer), Minority Stake Sales (partial equity sales via IPO, OFS, FPO, buyback without management transfer), and Capital Restructuring (guidelines for CPSE capital management including dividend policies). Supporting data services include the CPSE Market Monitor (daily BSE market updates), Dividend Receipts Tracking, and Disinvestment Receipts Tracking. DIPAM previously utilized CPSE-ETF and Bharat-22 ETF as investment vehicles for Government equity monetization. The department also manages an Internship Programme for students.

Differentiator

Problem solved

Functional benefit

Products and services

• Strategic Disinvestment Services Management of entire or substantial sale of Government of India shareholding in CPSEs along with transfer of management control, including privatization and strategic sales to other CPSEs. The service is targeted at the Government of India (Ministry of Finance) and is executed through a two-stage EoI/RFP bidding process involving IMG, CGD, and Alternative Mechanism.
• Minority Stake Sale Services Sale of Government of India equity in CPSEs without transfer of management control through SEBI-approved methods including IPO, FPO, Offer for Sale (OFS), and buyback of shares. The service is targeted at the Government of India and executed through BSE/NSE exchange platforms and SEBI-regulated Book Running Lead Managers.
• Capital Restructuring Services Guidelines and management of CPSE capital restructuring including dividend policies, buyback decisions, and capital allocation optimization for Central Public Sector Enterprises. Targeted at CPSEs and the Government of India.
• CPSE Market Monitor Daily BSE market updates and monitoring reports providing GOI equity market capitalization values for listed CPSEs and Public Financial Institutions (PFIs), including closing prices, number of GOI shares, and total market capitalization. Available on the DIPAM website.
• Dividend Receipts Tracking Tracking and reporting of dividend receipts from CPSEs to the Government of India, published on the DIPAM portal.
• Disinvestment Receipts Tracking Tracking and reporting of disinvestment proceeds from strategic sales and minority stake sales of Government equity in CPSEs, published on the DIPAM portal.
• CPSE-ETF and Bharat-22 ETF Exchange Traded Funds comprising baskets of CPSE stocks for monetizing Government shareholding in a stock-neutral, time-efficient manner. Targeted at retail and institutional investors seeking exposure to Indian PSU stocks. Equity ETF window has been paused.
• Internship Programme Government internship program providing opportunities for students to work with DIPAM on disinvestment and public asset management matters.

Quantifiable outcome

• Rs. 1.50 lakh crore CPSE dividend distribution in FY25 with Rs. 74,000 crore government share
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators8 records

Recent moves18 records

Expansion highlights5 records

Direct peers

• Bpifrance: Bpifrance is the French public investment bank that manages state equity participations and supports enterprise development — comparable to DIPAM as a state-owned investment vehicle executing government equity management and capital market transactions.
• UK Government Investments (UKGI): UKGI is the UK government's centre of excellence for corporate finance and asset management of state-owned assets and government businesses, directly analogous to DIPAM's mandate of managing central government equity holdings and executing privatizations.
• KfW Group: KfW is the German state-owned development bank that holds and manages government equity interests in enterprises and supports privatization/transition processes — a European comparable to DIPAM's state asset management role.

Broad incumbents

• Temasek Holdings: Temasek is a major Singapore state-owned investor managing a diversified portfolio of equity holdings across sectors; comparable to DIPAM in operating as a sovereign equity portfolio manager, but on a much broader, longer-duration commercial investment mandate.
• Norges Bank Investment Management (NBIM): NBIM manages Norway's Government Pension Fund Global — comparable to DIPAM as a state-asset/sovereign capital manager, though focused on external global equity markets rather than domestic state-owned enterprise equity.
• Mubadala Investment Company: Mubadala is an Abu Dhabi sovereign investor managing government strategic assets and equity holdings across sectors — comparable to DIPAM in operating as a state-owned investment entity with strategic asset responsibilities.
• GIC Pte Ltd: GIC is Singapore's sovereign wealth fund managing government reserves via long-term investments in equities and other asset classes — comparable to DIPAM as a sovereign capital allocator but with a global, diversified mandate rather than a domestic state-asset focus.
• Australia Future Fund: The Australian Future Fund manages government investment assets for long-term national savings — comparable to DIPAM in managing state financial assets, though with an external investment mandate rather than domestic disinvestment focus.

Regional players

• Khazanah Nasional: Khazanah is the Malaysian sovereign wealth fund that holds strategic government-linked equity stakes and manages state-owned enterprise restructuring — comparable to DIPAM in driving state-asset restructuring, though in a different Southeast Asian jurisdiction.
• Public Investment Fund (PIF): PIF is Saudi Arabia's sovereign wealth fund managing substantial state equity holdings and executing large-scale privatization programs under Vision 2030 — directly analogous to DIPAM's mandate of monetizing government stakes, though at a different geographic and capital market scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/SecyDIPAM
• YouTubeyoutube.com/@SecretaryDIPAM
• LinkedInlinkedin.com/company/department-of-disinvestment

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Department of Investment and Public Asset Management