Neyveli differs with CCEA route for stake-sale

The disinvestment department has moved the CCEA on the sale of a 10% stake in the Neyveli Lignite Corporation, reports CNBC-TV18.

March 27, 2012 / 22:31 IST

The department of disinvestment has moved the Cabinet Committee on Economic Affairs (CCEA) for an inter-ministerial discussion on the disinvestment of a 10% stake in PSUs Neyveli Lignite Corporation (NLC), Oil India and others, reports CNBC-TV18.

Sources in the government have confirmed that comments from the CCEA have been sought for disinvestment of the Neyveli Lignite Corporation which is scheduled to take place during 2012-13. The route for disinvestment would be on a price preferential basis.

However, the NLC management is against the new route of disinvestment. Sources in the nodal ministry say that though the coal ministry is in favour of an FPO (follow on public offer), the market conditions do not allow the adoption of a FPO or auction.

However, CNBC-TV18 has learnt from coal ministry sources that the ministry will back the company

first published: Mar 27, 2012 07:59 pm

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