The government has already mopped up more than Rs 17,000 crore (Rs 170 billion) through divestment in the current financial year and is on course to achieve the Rs 40,000 crore (Rs 400 billion) target by fiscal year-end, a key official said. "We have already collected about Rs 17,000 odd crore (Rs 170 billion) and with Power Grid (follow-on share offer), it will be coming to Rs 21,000 crore (Rs 210 billion)," Sidhartha Pradhan, additional secretary in the Department of Disinvestment, told PTI .
Next in the line for disinvestment in the current fiscal is Manganese Ore India Ltd, followed by Hindustan Copper Ltd, Shipping Corporation of India Ltd, Indian Oil Corporation and Steel Authority of India Ltd, he said.
Of this, 10 per cent dilution in government stake in IOC and five per cent in SAIL would be the "major contributors" for meeting the target.
"We will reach our target (mopping up Rs 40,000 crore (Rs 400 billion) in the current fiscal)", Pradhan said. The government last month raised Rs 15,200 crore (Rs 152 billion) by selling 10 per cent stake in Coal India. Earlier in the fiscal, it had raised Rs 1,000 crore (Rs 10 billion) each from share sale of SJVN Ltd and Engineers India.
