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CCEA approves 5% divestment in Neyveli Lignite

21 Jun 2013 Evaluate

The Cabinet Committee on Economic Affairs (CCEA) has approved 5% divestment in Neyveli Lignite Corporation, which would help to garner around Rs 450 crore to the exchequer. Earlier this month, the Cabinet Committee on Economic Affairs (CCEA) had deferred a decision on the stake sale. The Department of Disinvestment (DoD) has again moved the proposal for sale of over 7.8 crore shares, or 5%, through an offer for sale (OFS) in the Tamil Nadu-based miner.

Neyveli Lignite Corporation is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines with a capacity of about 30.60 million tonnes per annum, while it can produce about 2,740 MW of power from four power plants. It is one of the best public sector units in the country and a best profit making company in the past 16 years.

 

Neyveli Lignite Share Price

307.80 7.30 (2.43%)
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