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New Delhi, Sept. 13: The cabinet committee on economic affairs (CCEA) is likely to discuss the divestment of five public sector undertakings tomorrow.
These include a 10 per cent equity sale in Oil India Limited, a 9.59 per cent share sale in Hindustan Copper, a 5 per cent stake sale in Neyveli Lignite, 9.33 per cent in Mines and Minerals Trading Corporation (MMTC) and 12.15 per cent in National Aluminium Limited Company (Nalco).
Three more firms — Bhel, Steel Authority of India Limited and Rashtriya Ispat Nigam Limited — may come up for discussions later next month.
The government aims to raise Rs 30,000 crore through divestments in this fiscal, but it hasn’t been able to come out with any public offering so far.
Last year, the government was able to raise Rs 13,894 crore though selloffs against a target of Rs 40,000 crore.
Top officials in the disinvestment department said all stake sales under consideration would be through public offerings.
The government could earn up to Rs 10,000 crore from selling its stake in the five firms despite depressed market conditions, officials said.
A few days ago, the Centre had sought bids from merchant bankers to manage the NMDC and Nalco divestments.
On Thursday, the shares of all five firms jumped on prospects of equity dilution by the government.
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