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Union Cabinet approves NTPC, IOC stake sale to fetch Rs.13,000 corre

| | May 13, 2015, at 06:50 pm
#NTPC # IOC # Indian Oil Corp
New Delhi, May 13 (IBNS) The Union cabinet on has approved the proposal to sell 5 per cent stake in power-producer NTPC Ltd and 10 per cent ownership in Indian Oil Corp, a state-run fuel retailer major.

At present the government owns 75 per cent of NTPC stake and 68.6 per cent of Indian Oil.

Reports said the sale of 5 per cent share in  NTPC would fetch the government Rs 5,565 crore while that of 10 per cent in IOC would earn  Rs 7,932 crore.  Thus the government will be able to mop up more than 13,000 crore as part of its broader disinvestment plan that looks for raising Rs. 695 billion rupees this fiscal. 

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