Government may offload 5 percent stake in NTPC
September 10th, 2009 - 9:29 pm ICT by IANSNew Delhi, Sep 10 (IANS) State-run power utility NTPC Thursday said the government may sell up to 5 percent in the company before March.
“The government is looking to dilute between 4.7 to 5 percent. We are awaiting the government’s approval for this,” NTPC chairman R.S. Sharma told reporters on the sidelines of a power conference.
“The government wants this before March,” Sharma said after the conference, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
The move is part of the second United Progressive Alliance (UPA) government’s decision to offload stake in state companies.
Upstream oil company OIL India’s initial public offer closes Friday, while hydel power major NHPC too had made a went public last month.
REC, the nodal company for funding power projects in rural areas, is also believed to be on the government’s radar for equity divestment.
NTPC, with an installed capacity of over 30,000 MW, needs money to increase production by 22,430 MW by the end of the 11th plan period (March 2012).
Its profit after tax for 2008-09 was Rs.8,201 crore compared to Rs.7,415 crore in 2007-08, an increase of 10.61 per cent.
- Two-year roadmap by March to guide PSU divestments - Dec 21, 2009
- National Mineral Development Corp public offer by fiscal-end - Dec 29, 2009
- NTPC's annual profit up Rs.786 crore - May 22, 2009
- Government approves divestment in power firms - Oct 19, 2009
- High court permits usage of water cess levied on NHPC - Mar 31, 2012
- ONGC scrip soars after government nod for stake sale - Feb 29, 2012
- 1,000 MW solar power from NTPC arm at low rates - Jan 30, 2010
- 10 percent NBCC divestment okayed - Aug 11, 2011
- Rural Electrification Corp files draft prospectus - Dec 04, 2009
- NTPC envisages 3,300 MW capacity addition this fiscal (Lead) - Apr 08, 2009
- Kashmir minister lambasts NHPC for 'resource drainage' - Jun 06, 2011
- Divestment not more than 10 percent in state firms: Pranab - Dec 01, 2009
- Rural Electrification gets nod for public offer - Oct 29, 2009
- Jaypee's hydropower corridor to be set up this month - Jul 03, 2011
- Arunachal goes ahead with hydro project, despite Assam protests - Sep 16, 2011
Tags: chambers of commerce, chambers of commerce and industry, crore, indian chambers of commerce, initial public offer, mw, New Delhi, nhpc, ntpc, oil company, oil india, percent stake, period march, plan period, power projects, progressive alliance, radar, rural areas, sidelines, UPA
