Government to raise Rs 9,000 crore by equity selling of PSUs
The government is planning to sell 10 % equity stake in Public Sector Undertakings (PSUs) like Bharat Heavy Electricals Ltd (BHEL) and Oil India Ltd (OIL) for around Rs 9,000 crore so that it can meet its disinvestment target for the financial year 2017-18.
According to The Economic Times, the government can sell this stake either in the open market or ask the concerned PSU to buy back themselves.
Selling the equity share of BHEL will raise around Rs 5,220 crore while the similar stake in OIL will earn Rs 3,770 for the government.
The Government of India plans to raise Rs 72,500 crore by selling its stake in PSUs in the next financial year.