DoD identifies SJVN, MOIL for disinvestment in 2014-15

NEW DELHI: The government has identified Satluj Jal Vidyut Nigam ( SJVN) and manganese-ore miner MOIL as possible candidates for 10 per cent disinvestment in the current fiscal which could together fetch over Rs 1,200 crore to the exchequer.

"The disinvestment department has included 10 per cent stake sale each in SJVNL and MOIL for disinvestment in current fiscal," a government official told PTI.

A sale of 10 per cent stake or 37.22 crore shares of SJVN could fetch over Rs 890 crore. Besides, 10 per cent stake or 1.34 crore shares of MOIL could garner around Rs 400 crore at the current market price.

The government currently holds 89.97 per cent in SJVN and 80 per cent stake in MOIL.

SJVN and MOIL are among the 10 companies which have been cleared for disinvestment in the current fiscal.

Earlier this month, the government sold 5 per cent stake in steel major SAIL, which saw huge investor response with bids soaring two times the number of shares put on block. The sale raked in Rs 1,700 crore to the exchequer.

The government is racing against time to meet its disinvestment target of Rs 43,425 crore for this fiscal. It has lined up bluechip companies like ONGC and Coal India.

Also, NHPC, Power Finance Corp, Rural Electrification Corp and Container Corp are on the block.