PSUs to raise Rs 78K cr via debt instrument

Public sector companies, including NTPC, PowerGrid and GAIL, will raise about Rs 78,000 crore through debt instrument in the next financial year.

Presenting the Budget in the Parliament, Finance Minister Pranab Mukherjee today said public sector units (PSUs) will raise Rs 77,949.89 crore through bonds and external commercial borrowings in the year 2011-12.

In 2010-11, PSUs had raised Rs 53,477.8 crore.

About Rs 64,396.74 crore will be mopped-up through bonds and the remaining Rs 13,553.15 crore via external commercial borrowings.

Among the listed PSUs, NTPC would fetch the highest amount of Rs 16,150 crore, PowerGrid Corporation (Rs 13,773 crore), NHPC (Rs 2,078.67 crore), BPCL (Rs 2,000 crore), Gas Authority of India (Rs 3,000 crore), MRPL (Rs 2,000 crore), Indian Oil Corporation and HPCL (Rs 900 crore).

Apart from raising funds through debt, the government is also targeting to raise Rs 40,000 crore in 2011-12 from sale of government equity in PSUs as against Rs 22,144 crore raised during the current fiscal.

The government mopped up only around Rs 22,144 crore by diluting its stake in six companies-Satluj Jal Vidyut Nigam, Engineers India, Coal India, Power Grid, Manganese Ore India Ltd and Shipping Corporation this fiscal.