Oil India, NTPC to be disinvested

In a move directed towards achieving the target of Rs.30,000 through disinvestment, the government has decided divest 10 % stake in Oil India and will also dispose of 9.5 % holding in NTPC in January and February 2013.

How much could it fetch?

The 10 % stake in Oil India could generate around Rs.2,700 crore at current market prices. The 9.5 % stake sale in National Thermal Power Corporation (NTPC) could fetch over Rs.12,000 crore for the exchequer. The government proposes to divest in NTPC through the Offer for Sale (auction) route.

In this fiscal, the government has so far managed to raise over Rs.6,900 crore through minority stake sales in PSUs.

Month: Current Affairs - January, 2013