NEW DELHI, Oct 19: The Cabinet Committee on Economic Affairs (CCEA) has approved a proposal to divest stake in state-run utilities NTPC Ltd and Satluj Jal Vidyut Nigam Ltd (SJVN). The government will offload 5 per cent of its equity in NTPC and 10 per cent in SJVN, Commerce Minister Anand Sharma said here on Monday.
At the present valuation, the government will be able to raise over Rs 8,800 crore by divesting 5 per cent stake in NTPC, which generates over 30,000 MW of power. The government’s shareholding in the company would come down to 84.5 per cent after the divestment, Sharma told reporters. "After disinvestment it is expected that the market capitalisation of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms," he said.
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