Mining cos stake sale this fiscal

Written by fe Bureau | Hyderabad | Updated: Dec 31 2009, 05:29am hrs
As part of its disinvestment programme, the government has decided to divest an 8.38% stake in National Mineral Development Corporation (NMDC) by March 31, 2010. A legal advisory body is expected to be put into place in the next two days for it.

According to an official, the government could raise around $3 billion through the FPO based on the current market value. Incidentally, the government raised $1.8 billion by selling shares in NHPC and Oil India.