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
- Russia can run on empty for a year if sanctions block new bonds
- Apple says its systems not to blame for celebrity photo breach
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- UPDATE 3-Apple says its systems not to blame for celebrity photo breach
The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article