Government's $2.25 billion NTPC stake sale on Feb. 7
REUTERS - The government expects to raise around 120 billion rupees by selling a 9.5 percent stake in state power utility NTPC Ltd(NTPC.NS) in a share auction on February 7, Disinvestment Secretary Ravi Mathur said.
The floor price for the offer will be announced on Wednesday, he said.
Share sales in state companies has been a key element of the government's plan to bring down its fiscal deficit to 5.3 percent of gross domestic product by March-end to avoid a credit downgrade from global ratings agencies.
The government aims to raise $5.6 billion by selling shares in the 2012/13 fiscal year to March. Last week, it raised $585 million through a 10 percent stake sale in state explorer Oil India Ltd(OILI.NS).
It expects to sell shares in four other state companies before March-end, Mathur told reporters.
(Reporting by Prashant Mehra in MUMBAI; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
The rupee rose to a five-week high against the dollar and stocks jumped more than 1.5 percent to near record highs on Thursday as exit polls predicted a strong showing for the key opposition party in recent state elections. Full Article
Chinese, Indian manufacturers help emerging market business growth in Nov - HSBC. Full Article