NEW DELHI: India plans to raise 18.54 billion rupees ($386 million) via sale of shares in
two state-owned companies in the current fiscal year, the government said on Friday.
Namo Narayan Meena, a junior finance minister, told parliament the government would sell
a portion of its stake in power producer NHPC Ltd and explorer Oil India Ltd.
"The public offering of NHPC Ltd and Oil India Ltd are likely to be completed in the
current financial year," he said.
On Thursday, the finance ministry said in a review of the economy India needed to raise
250 billion rupees every year from divestments and called for selling a minimum of 10
percent equity to the public in all unlisted state companies.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Government+eyes+$386+mil
lions+from+stake+sales&artid=fQEZkP2TSCs=&SectionID=XT7e3Zkr/lw=&MainSectio
nID=XT7e3Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
two state-owned companies in the current fiscal year, the government said on Friday.
Namo Narayan Meena, a junior finance minister, told parliament the government would sell
a portion of its stake in power producer NHPC Ltd and explorer Oil India Ltd.
"The public offering of NHPC Ltd and Oil India Ltd are likely to be completed in the
current financial year," he said.
On Thursday, the finance ministry said in a review of the economy India needed to raise
250 billion rupees every year from divestments and called for selling a minimum of 10
percent equity to the public in all unlisted state companies.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Government+eyes+$386+mil
lions+from+stake+sales&artid=fQEZkP2TSCs=&SectionID=XT7e3Zkr/lw=&MainSectio
nID=XT7e3Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
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