PSUs

Centre likely to divest stakes in HUDCO, NBCC & NTPC

By IndianMandarins- 26 Jul 2018
211

centre-likely-to-divest-stakes-in-hudco,-nbcc-&-ntpc

To generate Rs 5,900 crore, the Centre is planning to divest a 10 per cent stake each in HUDCO and NBCC and 3 per cent in NTPC.

 

In this regard, the Finance Ministry is likely to float request for proposals to appoint merchant bankers for managing the stake sale of HUDCO and NBCC.

 

With the sale of stakes in these two construction companies, the government will be able to mop up Rs 2,200 crore, while by divesting 3 per cent stake in NTPC, the Centre will able to generate about Rs 3,700 crore.   

 

In October, 2016, the government had sold 15 percent stake through an offer for sale in NBCC for about Rs 2,200 crore. It now holds 89.8 percent stake in HUDCO and 73.7 percent in NBCC. In NTPC, its stake stands at 61.7 percent.

 

The government will move an inch closer to its Rs 80,000 crore disinvestment target in the current financial year by selling off its stakes in these three companies. It has so far raised Rs 9,000 crore.    

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