The Narendra Modi-led NDA Government is hurrying to mop up around Rs 40,000 crore through disinvestment of minority stakes in Coal India and ONGC before global investors go on year-end holidays. Both State-run behemoths have started road shows leading to a possible sell-down within three weeks, at a slight discount to prevailing stock price, people directly involved with the matter said.
Coal India´s 10 per cent share sale is likely to hit the markets by end this month, making the government richer by Rs 22,250 crore. ONGC´s 5 per cent stake sale in early December may put about Rs 17,000 crore in government coffers.
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