NTPC 9.5% stake sale likely on Jan 15,govt may get Rs 12,000cr
Agencies: New Delhi, Dec 11 2012, 16:33 IST
at the end of March 2012.
As part of the disinvestment process, the government has lined up around a dozen companies for stake sale to realise the target for the current fiscal.
Last month, the government initiated disinvestment process by selling 5.58 per cent stake in Hindustan Copper for about Rs 808 crore at an average price of Rs 156.56 apiece.
NMDC 10 per cent share sale is scheduled to take place tomorrow for which a base price of Rs 147 a share has been fixed. The offer can fetch Rs 5,828 crore to the exchequer, if the issue is fully subscribed at the base price.
The government, which has 90 per cent holding in the iron ore producer NMDC, plans to divest 39.65 crore shares, amounting to 10 per cent of its equity through offer for sale.
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