The government plans to raise around Rs 11,000 crore by divesting 5% stake in NTPC, making it the second largest public offer in the financial year 2009-10. The issue will be launched in the first week of February and the prospectus with SEBI will be filed this week.

In the second supplement of the Budget 2009-10, the government had provided Rs 4,200 crore to be raised from disinvestment in the current fiscal. According to one estimate, now the government aims to raise Rs 27,400 crore more in the next three months till March 2010. So far, it raised around Rs 4,260 crore via sell off in Oil Inida and NHPC. In total, the government hopes to raise around Rs 32,000 crore in 2009-10, which is more than 50% of the money so far raised since 1991 through divestment programme (Rs 57,683 crore). Continue reading Govt Getting Ready To Sell 5 Percent Equity of NTPC for Rs 11000 Crore →