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Last Updated : Dec 07, 2018 08:14 AM IST | Source: PTI

NTPC likely to buy Centre's stake in SJVN; discussions on with Himachal Pradesh govt

At the current market price, the sale of 63.79 percent stake in SJVN would fetch the Central government about Rs 6,700 crore.

 
 
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Power company NTPC is likely to acquire the Central government's stake in SJVN, an official said. However, the acquisition deal is stuck because of resistance from the Himachal Pradesh government, the official added.

The transaction would fetch the exchequer about Rs 6,700 crore at current market prices.

SJVN is a joint venture between central government and Himachal Pradesh government, with the Centre holding 63.79 percent stake and the latter holding 26.85 percent at the end of September.

"We are looking at NTPC acquiring Centre's share in SJVN. The matter is stuck because of resistance from Himachal Pradesh government. We are discussing it," the official said.

At the current market price, the sale of 63.79 percent stake in SJVN would fetch the Central government about Rs 6,700 crore.

The Cabinet on December 6 approved PFC buying the government's 52.63 percent stake in REC. The transaction would fetch the government Rs 15,000 crore.

The government has already mopped up over Rs 32,000 crore from CPSE disinvestment in the current fiscal.
First Published on Dec 7, 2018 08:13 am
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