Tuesday, May 12, 2015

Cabinet clears 5% disinvestment in NTPC, 10% in IOC

Cabinet Committee of Economic Affairs (CCEA) approved 5 percent divestment on  NTPC and 10 percent stake sale in  Indian Oil.

Earlier this year, the government divested 5 percent stake in  REC through the offer for sale route, mopping Rs 1,550 crore. It was subscribed 5.53 times with retail participation at 902 percent, finance minister Arun Jaitley said in a tweet. 

In Budget 2015-16, FM has set divestment target at Rs 69,500 crore. This step is likely to fetch Rs. 8500 crores.

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