Govt sets ball rolling for stake sale in NBCC, HUDCO
The government on Wednesday set the ball rolling for further selling of its stake in NBCC and HUDCO, in addition to an initial public offering (IPO) of the power sector company NEEPCO. The Department of Investment and Public Asset Management (DIPAM) in the finance ministry has invited separate bids from merchant bankers for the three issues, according to public notices.
The DIPAM has proposed to sell additional 10% stake each in construction major NBCC and housing finance company HUDCO, according to the notices. The government currently holds 73.75 per cent stake in NBCC and 89.81 per cent in HUDCO.
The proposal is to dilute the stake through the Offer for Sale (OFS) route.
The 25 per cent disinvestment in the North Eastern Electric Power Corporation (NEEPCO), a 100 per cent government owned company, is proposed through the IPO route.