Cabinet clears 5% disinvestment in NTPC, 10% in Indian Oil

Zee Media Bureau

New Delhi: The Union Cabinet on Wednesday approved 5 percent disinvestment in NTPC and 10 percent in Indian Oil Corporation to achieve the current fiscal's disinvestment target of Rs 41,000 crore.

A stake sale in IOC would garner about Rs 9,000 crore.

The government has already sold 5 percent stake in Rural Electrification Corporation (REC) last month to raise about Rs 1,550 crore -- the first disinvestment in the current fiscal. The stake sale received robust interest from retail investors.

The government has budgeted to raise Rs 41,000 crore through PSU stake sale in the current fiscal and another Rs 28,500 crore through strategic stake sales.

With PTI Inputs