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Eight merchant bankers bid for NHPC stake sale

The government plans to sell 11.36 per cent in NHPC through an Offer For Sale and up to three merchant bankers would be appointed to manage the disinvestment.

Finance Minister Arun Jaitley also said the Cabinet Committee on Economic Affairs has approved the residual stake sale in Hindustan Zinc and Balco.
NTPC is currently constructing a 2,640 MW power plant in Barethi in Chhattarpur district of Madhya Pradesh at a cost of about Rs 18,000 crore.
"We are seeking this proposal only till the time domestic supplies improve," says NTPC Chairman and Managing Director Arup Roy Choudhury.