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Govt likely to raise Rs1,854 cr through NHPC, OIL IPOs

Govt likely to raise Rs1,854 cr through NHPC, OIL IPOs
PTI
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First Published: Fri, Jul 03 2009. 03 18 PM IST
Updated: Fri, Jul 03 2009. 03 18 PM IST
New Delhi: The government is likely to raise Rs1,854 crore through the initial public offerings of NHPC and Oil India Ltd (OIL), the Lok Sabha was informed on Friday.
“The expected realisation to the government from the “Offer for Sale” in NHPC and OIL based on the book value is expected to be around Rs1,854 crore,” minister of State in finance ministry Namo Narain Meena said in a written reply to the Lok Sabha.
The public offerings of NHPC and OIL are likely to be completed in the current financial year. The public offering of RITES Ltd has been deferred by the company due to change in capital requirements, it said.
The government has also approved disinvestment of two other loss making public sector companies — Tyre Corporation of India Ltd (TCIL) and Central Inland Water Transport Corporation Ltd (CIWTC).
“The funds likely to be raised by disinvestment of TCIL and CIWTC cannot be estimated at this stage,” he said.
The proceeds from these public offerings would be channelised into the National Investment Fund.
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First Published: Fri, Jul 03 2009. 03 18 PM IST
More Topics: Oil | NHPC | Oil India ltd | IPO | Money |