The Centre has short-listed about a dozen public sector undertakings (PSUs) for stake sale this fiscal and the department of disinvestment (DoD) has floated a cabinet note seeking approval for the same.
The government has the potential to raise more than Rs 21,000 crore at current market price. Names include National Thermal Power (NTPC), Neyveli Lignite, Bharat Electronics (BEL), National Aluminium (Nalco), Hindustan Copper, MMTC, Engineers India, Rashtriya Chemicals Fertilizers (RCF), ITDC, National Fertilisers and STC.
Some of the firms have been included to comply with the Securities and Exchange Board of India’s (Sebi) minimum public shareholding norms that require at least 25 per cent stake with public investors.
Sebi deadline expires in 2017. Aradhana Johri, divestment secretary at the ministry, did not specify any time-frame for the share sale in the state-run miner but said the government will fast track the approval process for divestment in select PSU blue-chips.
In addition, the Centre has stake sales planned in Indian Oil, NMDC, Bharat Heavy Electricals), Oil and Natural Gas, and Power Finance (PFC) that are ready to be launched. FE