Panel to consider stake sale in NHPC

Panel to consider stake sale in NHPC

An inter-ministerial panel on disinvestment is scheduled to meet on Monday to consider 11.36 per cent stake sale in hydel-power generation company NHPC, which could fetch the government around Rs 2,400 crore, official sources said.

After the approval of Inter-ministerial Group (IMG), the Department of Disinvestment will float request for proposal (RFP) for appointment of merchant bankers and legal advisors. The proposed disinvestment of 11.36 per cent will be executed through an offer for sale (OFS) of shares by promoters through the stock exchanges.

The IMG is headed by Disinvestment Secretary Ravi Mathur. Besides, the panel has members drawn from Ministry of Power, Departments of Legal Affairs, Economic Affairs, Corporate Affairs and Chairman and Managing Director of NHPC.

NHPC, in which the government currently holds 86.36 per cent, was  listed in 2009. The government proposes to raise Rs 40,000 crore by way of disinvestment in the current fiscal.

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