NEW DELHI: India’s ministries of finance and power are discussing a plan to sell govt’s stake in hydro-power manufacturer NHPC Ltd. to its state-run peer NTPC Ltd., the country’s largest electricity generator by way of capacity, in step with folks familiar with the matter.
The govt’s 73.67 according to cent stake in NHPC is value about Rs 18,200 crore ($2.6 billion) as according to present prices, in step with Bloomberg calculations. Talks are at an initial degree and a deal is not going to be concluded this fiscal year, even if the government plans to finish some formalities ahead of March, the folks said. NHPC surged up to nine.7 according to cent ahead of remaining 3.nine according to cent higher at Rs 24.15.
The discussions point to the government’s plans to consolidate state-run power companies to present them global measurement and scale, with the exception of helping it to boost income collections and stick to its price range gap target. The sale, if licensed, would be the 2d such consolidation after state-run Oil and Natural Gas Corp. obtained the government’s stake in oil refiner Hindustan Petroleum Corp. for Rs 36,900 crore.
The sale will boost NTPC’s green portfolio as the predominantly coal-burning generator makes a gradual shift clear of fossil fuels. NTPC remaining year sought to acquire the government’s stake in every other hydro-electricity generator SJVN Ltd., however it hasn’t been ready to forge a deal but.
Officials at the power ministry, NTPC and NHPC didn’t right away respond to an e mail seeking feedback, while two calls to finance ministry spokesman DS Malik went unanswered.
The govt’s 73.67 according to cent stake in NHPC is value about Rs 18,200 crore ($2.6 billion) as according to present prices, in step with Bloomberg calculations. Talks are at an initial degree and a deal is not going to be concluded this fiscal year, even if the government plans to finish some formalities ahead of March, the folks said. NHPC surged up to nine.7 according to cent ahead of remaining 3.nine according to cent higher at Rs 24.15.
The discussions point to the government’s plans to consolidate state-run power companies to present them global measurement and scale, with the exception of helping it to boost income collections and stick to its price range gap target. The sale, if licensed, would be the 2d such consolidation after state-run Oil and Natural Gas Corp. obtained the government’s stake in oil refiner Hindustan Petroleum Corp. for Rs 36,900 crore.
The sale will boost NTPC’s green portfolio as the predominantly coal-burning generator makes a gradual shift clear of fossil fuels. NTPC remaining year sought to acquire the government’s stake in every other hydro-electricity generator SJVN Ltd., however it hasn’t been ready to forge a deal but.
Officials at the power ministry, NTPC and NHPC didn’t right away respond to an e mail seeking feedback, while two calls to finance ministry spokesman DS Malik went unanswered.
Government may sell $2.6 billion NHPC stake to NTPC: Report
![Government may sell $2.6 billion NHPC stake to NTPC: Report]()
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July 26, 2018
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