NEW DELHI: The government is making plans to sell up to 10 in line with cent stake each in actual property corporations HUDCO and NBCC as also three in line with cent in NTPC thru an be offering for sale (OFS), which might fetch about Rs 5,900 crore to the exchequer. The finance ministry will quickly waft Request for Proposals (RFP) to appoint service provider bankers for managing the stake sale of HUDCO and NBCC, a source mentioned.
"The Cabinet has cleared up to 10 per cent stake sale in NBCC and HUDCO through OFS. Whether it would be sold in one go or not would be decided based on investor response," the source advised .
At the current marketplace worth, sale of 10 in line with cent in HUDCO and NBCC may fetch about Rs 1,000 crore and Rs 1,200 crore to the exchequer. NTPC's three in line with cent OFS would fetch about Rs three,700.
The Cabinet had already approved 10 in line with cent stake sale in power producer NTPC, of which 7 in line with cent was once sold in August closing yr. The stake sale fetched Rs nine,100 crore.
The source mentioned that relying on marketplace situation, the stake sale will occur.
With regard to state-owned HUDCO and NBCC, the ministry is keeping the companies ready to launch it as and when the time is ripe.
"HUDCO and NBCC OFS will take time, could be in October-December quarter," the source mentioned.
Housing and Urban Development Corporation (HUDCO) had indexed itself on the inventory exchanges in May closing yr.
The source mentioned that 12 months lock-in requirement is over and government can now pass ahead with practice on provides or OFS. The IPO of HUDCO noticed huge demand from traders and was once subscribed just about 80 occasions.
The government had closing sold 15 in line with cent stake thru an OFS in NBCC for approximately Rs 2,200 crore in October 2016.
Currently, it holds 89.81 in line with cent in HUDCO and 73.69 in line with cent NBCC. In NTPC, its stake stands at 61.71 in line with cent.
Shares of HUDCO were buying and selling flat at Rs 53.15 on BSE, whilst that of NBCC were quoted at Rs 67.55, up zero.45 in line with cent. NTPC shares were buying and selling up zero.96 in line with cent at Rs 152.40 on the BSE.
The percentage gross sales would lend a hand the government transfer additional against the Rs 80,000 crore disinvestment goal of the present fiscal. It has thus far raised Rs nine,000 crore. JD SA SA
"The Cabinet has cleared up to 10 per cent stake sale in NBCC and HUDCO through OFS. Whether it would be sold in one go or not would be decided based on investor response," the source advised .
At the current marketplace worth, sale of 10 in line with cent in HUDCO and NBCC may fetch about Rs 1,000 crore and Rs 1,200 crore to the exchequer. NTPC's three in line with cent OFS would fetch about Rs three,700.
The Cabinet had already approved 10 in line with cent stake sale in power producer NTPC, of which 7 in line with cent was once sold in August closing yr. The stake sale fetched Rs nine,100 crore.
The source mentioned that relying on marketplace situation, the stake sale will occur.
With regard to state-owned HUDCO and NBCC, the ministry is keeping the companies ready to launch it as and when the time is ripe.
"HUDCO and NBCC OFS will take time, could be in October-December quarter," the source mentioned.
Housing and Urban Development Corporation (HUDCO) had indexed itself on the inventory exchanges in May closing yr.
The source mentioned that 12 months lock-in requirement is over and government can now pass ahead with practice on provides or OFS. The IPO of HUDCO noticed huge demand from traders and was once subscribed just about 80 occasions.
The government had closing sold 15 in line with cent stake thru an OFS in NBCC for approximately Rs 2,200 crore in October 2016.
Currently, it holds 89.81 in line with cent in HUDCO and 73.69 in line with cent NBCC. In NTPC, its stake stands at 61.71 in line with cent.
Shares of HUDCO were buying and selling flat at Rs 53.15 on BSE, whilst that of NBCC were quoted at Rs 67.55, up zero.45 in line with cent. NTPC shares were buying and selling up zero.96 in line with cent at Rs 152.40 on the BSE.
The percentage gross sales would lend a hand the government transfer additional against the Rs 80,000 crore disinvestment goal of the present fiscal. It has thus far raised Rs nine,000 crore. JD SA SA
Government plans HUDCO, NBCC, NTPC share sale; may raise Rs 5,900 crore
![Government plans HUDCO, NBCC, NTPC share sale; may raise Rs 5,900 crore]()
Reviewed by Kailash
on
July 27, 2018
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