Cabinet defers decision on NHPC stake sale | delhi | Hindustan Times
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Cabinet defers decision on NHPC stake sale

The government on Thursday deferred a decision on the 11.36% stake sale plan in hydel power producer NHPC. The proposed stake sale would fetch about Rs 1,850 crore to the exchequer at current market prices.

delhi Updated: Aug 08, 2013 23:04 IST

The government on Thursday deferred a decision on the 11.36% stake sale plan in hydel power producer NHPC.

The proposed stake sale would fetch about Rs 1,850 crore to the exchequer at current market prices.

"The decision on NHPC stake sale has been deferred," a source said after the meeting of the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Manmohan Singh.

Sources said there were differences between the power ministry and the disinvestment department over the stake sale in NHPC. The power ministry wanted the stake sale to happen only when market conditions improved.

The government had selected three merchant bankers - Credit Suisse, HSBC and SBI Cap - for managing NHPC stake sale.