You are here:HomeCorporates

Government likely to divest equity in Oil India, NTPC in Jan-Feb

close

New Delhi:

The government is likely to divest stake in Oil India next month, followed by National Thermal Power Corporation (NTPC) in February, to achieve its Rs 30,000 crore disinvestment target.

"We will come out with Oil India issue in January and in the next 3-4 weeks NTPC will hit the markets," a government official said.

The government plans to divest 10 per cent stake in Oil India which could fetch it around Rs 2,700 crore at the prevailing market price. Besides, a 9.50 per cent stake sale in NTPC could reap for the exchequer over Rs 12,000 crore.

"We will meet the disinvestment target envisaged in the Budget," the official said.

With three months of the current fiscal remaining, the government has a mammoth task before it to achieve the Rs 30,000 crore target set in the Budget, 2012-13.

So far this fiscal, it has managed to raise over Rs 6,900 crore through minority stake sale in PSUs.

While NMDC issue has fetched Rs 6,000 crore, stake sale in Hindustan Copper got Rs 808 crore to the government. Earlier, it had realised Rs 154 crore from NBCC initial public offer (IPO).    

The government has already identified 10 companies, including Oil India, SAIL and Hindustan Aeronautics.   

It plans to sell 10 per cent stake each Rashtriya Ispat Nigam Ltd (RINL), Hindustan Aeronautics Ltd (HAL). Besides, it plans to offload 12.15 per cent in NALCO, 10.82 per cent in SAIL and 9.33 per cent in MMTC. Also, a 5 per cent stake sale in BHEL and another 4.01 per cent in industan Copper is in the pipeline.

Story first published on: December 23, 2012 13:05 (IST)

MORE FROM NDTV

FROM THE WEB

MORE FROM THE WEB
MORE FROM NDTV

For Profit Update,
Follow NDTV on Pinterest

Post your comments:

Social Sharing

Advertisement

Advertisement

 

More From NDTV

More From the WEB

Advertisement

Market Data provided by © Accord Fintech.
© Copyright NDTV Convergence Limited 2014. All rights reserved.