EGoM likely to decide on NTPC stake sale on Feb 5

The Empowered Group of Ministers (EGoM) chaired by Finance Minister P Chidambaram is expected to meet in New Delhi on Tuesday to decide on time and price of 9.5 per cent stake sale in power major National Thermal Power Corporation (NTPC).

The 9.5 per cent stake sale in NTPC could fetch around Rs 12,000 crore at the current market price. The Department of Disinvestment (DoD) has already conducted international roadshows for disinvestment of NTPC.

"The EGoM on stake sale in NTPC will be held tomorrow," an official said. The government, he said, was proposing to offload its stake in NTPC later in the week through the offer for sale (OFS) route.

The DoD had successfully completed 10 per cent stake sale in Oil India (OIL) through the auction route last week raising over Rs 3,113 crore for the government.

With the OIL stake sale going through, the government has raised over Rs 10,000 crore though PSU stake sales so far this financial year. This include Rs 6,000 crore from stake sale in NMDC, Rs 800 crore from Hindustan Copper and Rs 125 crore from NBCC.

Disinvestment Secretary Ravi Mathur had earlier said the government will be able to raise Rs 27,000 crore through disinvestment in the current financial year, lower than the budgeted Rs 30,000 crore .