National Mineral Development Corp public offer by fiscal-end
December 29th, 2009 - 4:29 pm ICT by IANS ( Leave a comment )Mumbai, Dec 29 (IANS) The government plans to divest 8.38 percent in state-run National Mineral Development Corp (NMDC) before the end of the fiscal, the company said Tuesday in a regulatory statement.
“The government has desired to complete the process of disinvestment of 8.38 percent of paid-up equity in NMDC, out of government’s share holding through further public offer in the domestic market during the current financial year,” said a company statement.
The government is also aiming to offload 10 percent equity in three power utilties — NTPC (formerly National Thermal Power Corp), Rural Electrification Corp (REC) and Satluj Jal Vidyut Nigam (SJVN) by end of 2009-10.
It plans to use the proceeds from such stake sales to make capital investment over the next three years and has already divested 5 percent stake in National Hydro Power Corp (NHPC) and exploration firm Oil India this financial year.
- Two-year roadmap by March to guide PSU divestments - Dec 21, 2009
- Rural Electrification Corp files draft prospectus - Dec 04, 2009
- Divestment not more than 10 percent in state firms: Pranab - Dec 01, 2009
- Government approves divestment in power firms - Oct 19, 2009
- NTPC sale to fetch 1.8 billion dollars: Disinvestment Secretary - Nov 14, 2009
- Government hikes divestment targets to rake in Rs.25,000 cr - Feb 26, 2010
- Rural Electrification gets nod for public offer - Oct 29, 2009
- Disinvestment norms for public sector eased - May 26, 2010
- 10 percent NBCC divestment okayed - Aug 11, 2011
- Government begins process for road map on divestment - Nov 13, 2009
- Rs.40,000 crore disinvestment target will be met: Patel - Mar 01, 2011
- Himachal hydropower major upbeat over disinvestment plans (Lead) - Oct 20, 2009
- 'Divestment will help in branding Satluj Jal Vidyut Nigam' - Oct 20, 2009
- Bangladeshi envoy to visit India over dam project issue (Lead) - Nov 24, 2011
- Khaleda Zia writes to Manmohan over Tipaimukh Dam project - Nov 23, 2011
Tags: capital investment, disinvestment, hydro power, jal, mineral development, national thermal power, nhpc, nmdc, oil india, percent stake, proceeds, rural electrification, sjvn
