Govt mulls options to allocate NTPC stake in ICVL

Following NTPC’s exit from ICVL, the government is mulling a couple of options for distributing power major’s 14 per cent stake among the existing shareholders — SAIL, RINL, NMDC and Coal India.

One of the options that may pave for smooth distribution is allocating the 14 per cent stake in proportion to the current shareholding pattern.

However, the government is also weighing the option of giving the 14 per cent stake to the PSUs under the steel ministry’s administrative control — SAIL, RINL and NMDC.

“It all depends how they (the government) are going to restructure. They may divide the shareholding of NTPC to other shareholders in the proportion of their existing shareholding pattern,” SAIL Chairman C S Verma said.

“They may give NTPC’s stake to steel companies. But, whatever it be, SAIL is the largest shareholder in ICVL now and will remain the largest shareholder,” Verma, who is also the chairman of ICVL, said.