NTPC stake sale may fetch govt Rs.12,000 crore

Written by Press Trust of India | New Delhi | Updated: Feb 2 2013, 08:27am hrs
Finance ministry will launch in the next 8-9 days the share sale offer of power major NTPC, which is expected to fetch R12,000 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% stake sale of the Oil India (OIL) through the auction route raising over R 3,113 crore for the government. It plans to sell 9.5% stake in NTPC, which could fetch around R12,000 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% from Thursdays 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 in March. Divestment secretary Ravi Mathur had said the government will be able to raise over R27,000 crore through disinvestment in the current fiscal, lower than the budgeted R 30,000 crore.