Centre To Sell Stake In Oil India, NTPC, Three Other PSUs

03 July, New Delhi

The Government of India will sell a minority stake in the nation’s biggest power producer NTPC, as well as in Oil India Ltd and three other PSUs as part of its disinvestment drive.

The Department of Disinvestment Friday sought bids to appoint legal advisors for sale of stake in five PSUs through an offer for sale (OFS), besides a follow on offer of the CPSE Exchange Traded Fund.

At the current market prices, the stake sale in five PSUs could fetch the exchequer around Rs 11,500 crore.

The disinvestment department plans to sell 15 per cent stake in Hindustan Copper Ltd (HCL), 10 per cent each in Oil India (OIL) and Engineers India (EIL) and 5 per cent each in NTPC and Bharat Electronics Ltd (BEL).

The government holds 67.64 per cent stake in country’s second largest explorer OIL, 74.96 per cent in NTPC, 69.37 percent in EIL, 75.02 per cent in BEL, and 89.95 per cent in HCL.