The Union Cabinet today cleared five per cent disinvestment in National Thermal Power Corporation Limited and ten per cent in Indian Oil. It may fetch the government over 13,000 crore rupees at current market price.The proposed share sale of 5 per cent in NTPC will fetch the government 5,565 crore rupees while that of 10 per cent in IOC will bring in 7,932 crore rupees. Thus, the stake sale in both companies will help the government mop up over Rs 13,000 crore.According to the BSE data, the government holds 74.96 per cent in NTPC and 68.57 per cent in IOC. The government has budgeted to raise 41,000 crore rupees through PSU stake sale in the current fiscal and another 28,500 crore rupees through strategic stake sales.
News On AIR | May 13, 2015 1:55 PM
Cabinet clears 5% disinvestment in NTPC & 10% in Indian Oil