Cabinet approves five percent disinvestment in NTPC
19 Oct 2009, 1623 Hrs

Add comment          Mail          Print          Write to Editor

New Delhi, Oct 19 The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for disinvestment of five percent paid up equity capital of National thermal Power Corporation (NTPC), out of Government's shareholding, in the domestic market through book building process.

Commerce and Industry Minister Anand Sharma said that part of the disinvestment in both the cases would be offered to the employees of the two public sector companies.

After this disinvestments the Government shareholding in the company would come down to 84.50 percent.

NTPC Limited is engaged in the business of power generation. Government of India is holding 89.50 percent equity in the company and the balance is held by the general public.

The shares of the company are listed on the stock exchanges in the market.

On disinvestment of the proposed equity, 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.

The shares would be owned by the public and thus the objective of people-ownership in the public sector would also be achieved. (ANI)

Related Latest

Nearly 50 percent of Indian women marry before 18: Unicef Defence ministry approves purchase of Boeing transport plane Disinvest, use money for green assets: Finance Commission chief Sensex volatile, ruling 0.61 percent in red Sugarcane pricing not discussed at cabinet meeting: Soni Cabinet approves National Solar Mission Cabinet approves drought package for Bundelkhand CO2 emissions caused by humans rise 2 percent despite global financial crisis 70 percent of Cuba's farmland under threat Russia pledges 25 percent emissions cut by 2020

Related Latest

As far as Kashmir issue is concerned, India will not redraw borders: Singh Pakistan has not done enough on the Mumbai terror attacks: Manmohan Singh No apprehension about US viewing India differently: Manmohan Singh Winters leave Ladakh out of bound, make stocking of food material a must Eco-friendly vehicles rally held in Delhi People worship Highway Goddess for safe journey in Chennai Lucknow Zoo authorities treating tiger for cancer Hussey ready to cop criticism, but will let bat do the talking PAC supports idea of making Pak Army's financial records public Pak heading towards 'demographic disaster', warn experts

• Pakistan has not done enough on the Mumbai terror attacks: Manmohan Singh
• As far as Kashmir issue is concerned, India will not redraw borders: Singh
• No apprehension about US viewing India differently: Manmohan Singh
• Winters leave Ladakh out of bound, make stocking of food material a must
• Lucknow Zoo authorities treating tiger for cancer

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights