Will try to get Rs 27000 cr from stake sale: Disinvestment Secretary

NEW DELHI: The Finance Ministry today said it expects over Rs 27,000 crore from stake sale in PSUs, short of the disinvestment target of Rs 30,000 crore for the current fiscal.

"Rs 30,000 crore disinvestment target may be difficult to reach. My calculation is Rs 25,000 or Rs 26,000 crore. We will try to cover Rs 27,000 crore," Disinvestment Secretary Ravi Mathur told reporters here.

The Department of Disinvestment (DoD) has outlined a roadmap for PSU stake sale in the current fiscal. It has already raised over Rs 6,900 crore so far, against the budgeted Rs 30,000 crore target.

As per the roadmap, auction of 10 per cent stake in OIL will happen tomorrow, followed by a 9.5 per cent stake offloading in NTPC.

The government has fixed the floor or the minimum offer price for OIL stake sale at Rs 510 a share, which is a discount of 5.41 per cent over today's market price of Rs 539.20. OIL issue could fetch Rs 3,065 crore to the exchequer.

"We expect a good response (to OIL issue). It (510) is at a good discount," Mathur added.

Further, DoD has also started roadshows in five countries, including the US, the UK and Japan, for promoting the proposed Rs 13,000 crore stake sale in power producer NTPC.

"NTPC roadshows are going on. As soon as roadshows are over we will fix a date for share sale," Mathur said.

The DoD plans to divest stake in a host of bluechip PSUs in the current fiscal, including SAIL, NALCO and MMTC.

The government has already identified 10 PSUs for divesting stake.