New Delhi, March 4 (PTI): The government may advance the date to acquire RBI’s stake in Nabard and NHB by a year if adequate amount is left out of the Rs 40,000 crore provided in the budget 2007-08 to buy the central bank’s shares in the State Bank of India (SBI).

The government will buy a 59.73 per cent stake of the Reserve Bank in SBI by June 30 this year. The Centre has also decided to buy RBI’s 72.50 per cent stake in Nabard and a 100 per cent stake in National Housing Bank (NHB) by June 30 next year.

For acquiring stake in SBI, the government has made a provision of Rs 40,000 crore in the budget for 2007-08.

This amount for acquiring around 31 crore shares of RBI in SBI is based on a consideration of Rs 1,300 a share, as per the Sebi’s formula. However, if stock market remains bearish, the government could acquire the stake at a much lower price.

If the deal for SBI works out at less than Rs 40,000 crore and adequate amount is left for acquiring RBI’s shares in Nabard and NHB, the government might acquire those shares as well, sources from the finance ministry said.

SBI shares closed at Rs 1,008.45 at the close of trading on Friday. At this price, the government would have to shell out about Rs 32,000 crore to acquire RBI’s stake, leaving enough funds in hand to buy shares of NHB and Nabard as well.

Since Nabard and NHB are not listed entities, stake in them would be acquired on the basis of their book value. The book value of Nabard is estimated at Rs 3,850 crore and NHB at Rs 1,200 crore, the sources said.

If Rs 1,200 crore is left after the SBI deal, the government might acquire a 100 per cent stake in NHB this year. The government might buy RBI’s 72.5 per cent share in Nabard if another Rs 2,791.25 is left.