Govt starts NHPC stake sale process | business | Hindustan Times
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Govt starts NHPC stake sale process

The government, which holds 86.36% in hydro power company NHPC Ltd, has initiated the process of divesting a 11.36% stake. It will soon appoint merchant bankers for the process.

business Updated: May 28, 2013 22:15 IST
HT Correspondent

The government, which holds 86.36% in hydro power company NHPC Ltd, has initiated the process of divesting a 11.36% stake. It will soon appoint merchant bankers for the process.

The government plans to complete the exercise through offer for sale (OFS) in the domestic market.

Up to 10%of the OFS would be reserved for the employees and shares would be offered to them at a discount of 5% over the issue price.

At the current market price of R20 apiece, the 11.36% stake sale could fetch around Rs 2,400 crore to the exchequer.

The government has set a disinvestment target of R40,000 crore for the current fiscal.

State-owned firm National Fertilizer Ltd is also likely to get nod for disinvestment.