An inter-ministerial panel on disinvestment, which is scheduled to meet on Monday, i.e. May 20, 2013, will consider 11.36% stake sale in hydel-power generation company NHPC, which could fetch the government around Rs 2,400 crore. After this approval, the Department of Disinvestment (DoD) will issue request for proposal (RFP) for appointment of merchant bankers and legal advisors. The proposed disinvestment of 11.36% will be conducted via an offer for sale (OFS) of shares by promoters.
The government proposes to raise Rs 40,000 crore by way of disinvestment in the ongoing fiscal. The government has already lined up a host of companies, including Coal India, Indian Oil and Hindustan Aeronautics, for stake sale in the current fiscal.
