Govt planning to sell 15 per cent stake in MMTC

The government is planning to sell 15 per cent stake in state-run trading firm MMTC in the current fiscal, chairman and managing director Ved Prakash said.

“We are ready for the government's plan of divesting 15 per cent stake in the company which is a Government of India enterprise. It is expected to fetch good amount to the exchequer,” Ved Prakash told PTI. He, however, refrained from giving any figure about the amount that would be raised after disinvestment.

The government had last sold 9.33 per cent stake in MMTC to raise aboutRs 570 crore in June 2013. The government a couple of months ago, announced intention to hire bankers for divesting part of its stakes in state-owned trading firms MMTC and State Trading Corp.