Govt nets Rs 11,500 crore from THDC, NEEPCO strategic divestments

The government completed strategic sales of state owned power companies THDC and NEEPCO Friday, netting Rs 11,500 crore in the process.

The government sold its 74.49% stake in THDC India Ltd for Rs 7,500 crore, and its full stake in North Eastern Electric Power Corporation Ltd (NEEPCO) for Rs 4,000 crore to NTPC, department of investment and public asset management (DIPAM) said in a statement.

"DIPAM completed two more strategic disinvestment transactions. GOI’s 74.49% stake in THDC at a consideration of Rs 7500 cr and 100% stake in NEEPCO at Rs 4000 cr has been disinvested in favour of NTPC," secretary TK Pandey said on Twitter.


ET had reported earlier this week that strategic divestments of both the entities was nearing completion and proceeds of the same will get accrued to the government coffers within the month.

As of March 27, the total earning from divestment for the government stands at Rs 46,354 crore, which still falls short of the revised target of Rs 65,000 crore for the ongoing financial year.