NTPC offer for sale could fetch Rs 12,000 cr
The government has raised over R10,000 crore from PSU disinvestments this fiscal, including the proceeds of R3,141 crore from the sale of 10% in Oil India last week. As against the budget target of R30,000 crore for this fiscal, disinvestment revenue so far has been over R10,000 crore. Disinvestment secretary Ravi Mathur said last week that PSU stake sales could fetch R27,000 crore, falling short of the target.
Following an empowered group of ministers’ meeting chaired by finance minister P Chidambaram on Tuesday, Mathur said the price of NTPC shares for sale will be communicated to stock exchanges on Wednesday. According to sources, the offer price will be at a discount of 5-6% to the market price.
Analysts believe that cash-rich public sector entities like LIC might pick up a significant chunk of NTPC stake on offer, as happened with other major stake sales like ONGC, Hindustan Copper and OIL.
The NTPC stock closed up 0.16% on the BSE on Tuesday while the Sensex fell 0.46%. The divestment department has already conducted international roadshows for the divestment of NTPC.
Last week, the government completed the sale of 10% in Oil India Ltd (OIL) raising over Rs 3,141 crore. In a press statement,
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