The government's divestment drive is gathering steam. The cabinet today cleared a 9.5 percent stake sale in NTPC. The divestment is likely in the last quarter of this financial year. The government is looking at raising over Rs 13,000 crore from the stake sale, post which it'll retain 75% stake in NTPC. The cabinet has also re allocated 3 coal blocks for 8,500 mw of additional capacity that were earlier de-allocated from NTPC.
“The stake sale has been approved and we will go by the offer-for-sale method and this will get done within this financial year,” power secretary P Uma Shankar told CNBC-TV18.
"NTPC has been requesting for re-allocation of three coal blocks, which were de-allocated earlier. So, this re-allocation will take place now immediately and NTPC also has about 8,000 megawatts plus capacity, which is coming up for which they wanted fresh allocation blocks and this is also likely to take place immediately," he said.