Published On : Wed, May 13th, 2015

Cabinet approves 10% stake sale in IOC and 5% in NTPC

NewDelhi/Nagpur: The Cabinet Committee on Economic Affairs on Wednesday cleared sale of a part of its equity in National Thermal Power Corporation and Indian Oil Corporation. The government is looking to sell 5 per cent of its shares in NTPC and 10 per cent shares in IOC.

The divestment could generate over Rs 14,000 crore.

The Finance Ministry is expecting to generate Rs 69,500 crore through divestment this financial year.