BHEL share sale likely next fiscal year - minister

INDIA-MINISTERS-BHEL:BHEL share sale likely next fiscal year - minister

February 15, 2012 / 14:20 IST

NEW DELHI (Reuters) - A share sale by the government in state-run power equipment maker Bharat Heavy Electricals Ltd may happen next fiscal year, heavy industries minister Praful Patel said.
A panel of ministers met on Wednesday to consider stake sale in BHEL, but did not take any decision on the matter, Patel told reporters.
The planned stake sale in BHEL, which had been cleared by the cabinet last year, was expected to raise about $1 billion.
India had planned to raise about 400 billion rupees from share sales in state-run firms this fiscal year that ends in March, but has so far only raised about $250 million.
(Reporting by Arup Roychoudhury; Editing by Subhadip Sircar)

first published: Feb 15, 2012 01:56 pm

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