Tuesday, October 20, 2009

Divestment in NTPC approved

Indian Cabinet has approved the disinvestment of 5% of National Thermal Power Corporation Limited (NTPC) and 10% of Satluj Vidyut Nigam Limited.

The Government expects to raise about Rs. 8000 crore through the NTPC stake sale. NTPC is already a listed company with a market capitalization of Rs 1,72,000 crores and after this disinvestment of 5% the government's share in the company will come down to 84.5%.

Satluj Vidyut Nigam is a joint venture hydro-electicity generation ulitity of the Central Government (75%) and the State Government of Himachal Pradesh (25%).

The disinvestment proceedings of these companies will go into making up the budget deficit.

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