Despite good response to NTPC, Nalco divestment pushed to March
The finance ministry is to unveil the Budget on February 28. The department has also indicated that public issue of Steel Authority of India (SAIL) might not come in this fiscal.
The government has so far raised roughly R22,000 crore this fiscal from selling stakes in NTPC, Oil India, NMDC and HCL and NBCC. While OIL helped raise R3,114 crore, the 9.5% disinvestment in NTPC is expected to bring R11,500 crore. The government has already collected about R6,900 crore from divestments earlier in the year.
Encouraged by the recent rally in the stock market, the department is trying to push through a 12.5 % stake sale in Nalco, expected to garner R1,400 crore. This is likely to be followed by a sale in MMTC, where it plans to offload a 9.33% stake that will help raise R800 to R1,000 crore.
The department is also planning to bring out a comparatively smaller offer of a 12.5% stake sale in Rashtriya Chemicals and Fertilizers, estimated to bring R300 crore.
In total, the receipts through stake sale in the current financial year are expected to touch roughly
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