Finance ministry will launch in the next 8-9 days the share sale offer of power major NTPC, which is expected to fetch Rs 12,000 crore to the exchequer.
New Delhi: Finance ministry will launch in the next 8-9 days the share sale offer of power major NTPC, which is expected to fetch Rs 12,000 crore to the exchequer.
"We will keep a gap of 8-9 days between two PSU stake sale. NTPC is the next," said an official of the Department of Disinvestment (DoD), a wing of the Finance Ministry.
The department has successfully completed 10 percent stake sale of the Oil India (OIL) through the auction route Friday raising over Rs 3,113 crore for the government.
It plans to sell 9.5 percent stake in NTPC, which could fetch around Rs 12,000 crore at the current market price. The DoD is already conducting international roadshows for disinvestment of NTPC.
Shares of NTPC closed at Rs 156.75, up 0.1 percent from yesterday's close on the BSE.
The official further said that NTPC share sale would be followed by offer for sale (OFS) of Nalco.
As per the roadmap prepared by the DoD, government will sell stake of steel major Sail, metal trading giant MMTC and Rashtriya Chemical Fertiliser (RCf) in March.
Disinvestment Secretary Ravi Mathur had yesterday said that the government will be able to raise over Rs 27000 crore through disinvestment in the current fiscal, lower than the budgeted Rs 30,000 crore.
With the OIL stake sale going through, the government has raised over Rs 10,000 crore though PSU stake sale so far this fiscal.