"The Cabinet has approved 5 percent disinvestment in NTPC and 10 percent in Indian Oil Corporation (IOC)," a source said after the Cabinet meeting here. According to BSE data, the market capitalisation of
NTPC stood at Rs 1,11,313.77 crore while that of IOC was Rs 79,321.21 crore as of Wednesday.

The proposed share sale of 5 per cent in NTPC would fetch the government Rs 5,565 crore while that of 10 percent in IOC would bring in Rs 7,932 crore. Thus, the stake sale in both companies would help the government mop up over Rs 13,000 crore.
The government holds 74.96 percent in NTPC and 68.57 percent in IOC, according to the BSE data. The government has budgeted to raise Rs 41,000 crore through PSU stake sale in the current fiscal and another Rs28,500 crore through strategic stake sales.NTPC was trading down 4.28 percent at Rs 135.45 and IOC fell 1.79 percent to Rs 326.85 at noon.


Latest News  from Business News Desk