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Government puts BHEL share sale plan on hold: Executive

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Washington:

The union government has decided to put on hold plans to sell a stake in state-run Bharat Heavy Electricals Ltd, Finance Director P.K. Bajpai said on Tuesday.

 

The company earlier said it has withdrawn initial papers filed with the capital market regulator for the share sale.

 

In February, Heavy Industries Minister Praful Patel said the share sale in the power equipment maker may happen in the fiscal year 2012/13 beginning in April.

 

The stake sale, which was approved by the cabinet in 2011, was expected to raise about $1 billion.

Story first published on: April 03, 2012 16:09 (IST)

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