Govt raises Rs 11,500 crore from strategic sale of two state-run power companies to NTPC

The government has raised Rs 11,500 crore through strategic sale of two state-run power companies, THDC and NEEPCO, to NTPC

Press Trust of India March 27, 2020 17:32:36 IST
Govt raises Rs 11,500 crore from strategic sale of two state-run power companies to NTPC

New Delhi: The government has raised Rs 11,500 crore through strategic sale of two state-run power companies, THDC and NEEPCO, to NTPC.

The government has sold 74.49 percent stake in THDC for Rs 7,500 crore and 100 percent in NEEPCO for Rs 4,000 crore.

Govt raises Rs 11500 crore from strategic sale of two staterun power companies to NTPC

Representational image. Reuters

With this, the total disinvestment proceeds in the current financial year stand at over Rs 46,500 crore. The Revised Estimates had pegged disinvestment receipts in the current financial year at Rs 65,000 crore.

"DIPAM completed two more strategic disinvestment transactions. GoI''s 74.49 percent stake in THDC at a consideration of Rs 7500 cr and 100 percent stake in NEEPCO at Rs 4000 cr has been disinvested in favour of NTPC," Secretary DIPAM said in a tweet.

DIPAM is the Department of Investment and Public Asset Management.

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