Govt eyes Rs 35,000 cr from PSU stake sale

Dipam also plans to allow employees of these companies be a part of the offer-for-sale

The government is planning to divest stake in seven state-owned companies that are listed on the stock exchanges. This could fetch the exchequer about Rs 35,000 crore, nearly half of the financial year 2017-18 (FY18) disinvestment target of Rs 72,500 crore.

The finance ministry’s Department of Investment and Public Asset Management (Dipam) has issued formal requests for proposals for legal advisors and merchant bankers for the stake sale, through the offer-for-sale route. The seven companies are NHPC, NTPC, Power Finance Corporation, Rural Electrification Corporation, Steel Authority of India, NLC India, and Indian Oil.

The proposal is to divest