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Eight PSUs likely to hit market in Q3: Official

Bhel, SAIL, Hindustan Copper, Nalco, NMDC, NTPC, Neyveli Lignite and RINL are lined up for disinvestment in the next quarter, Disinvestment Secretary M H Khan said.

As part of the government's disinvestment plans, around eight public sector companies are likely to hit the capital market in the October-December period, a top official has said.

Bhel, SAIL, Hindustan Copper, Nalco, NMDC, NTPC, Neyveli Lignite and RINL are lined up for disinvestment in the next quarter, Disinvestment Secretary M H Khan said.

"We have taken a broad decision that in this third quarter we have to do so many things... I think, there are decent numbers... seven or eight companies are lined up and they are at various level of preparations," Khan said on the sidelines of a workshop on ETF here last evening.

Though all these PSUs are lined up for stake sale, whichever is ready first will hit the market, he said, adding, it will be difficult to predict which company will hit the market first as it depends on many factors.

Through the disinvestment process, the government will offload at least 5 per cent of its holding in these companies.

The government has proposed to raise Rs 30,000 crore from disinvestment in this fiscal. However, it has failed to come out with any public offering so far.

Last fiscal, the government missed its disinvestment target of Rs 40,000 crore due to volatile market conditions and managed to raise only Rs 14,000 crore of which over Rs 12,000 crore was collected from selling 5 per cent in ONGC.