The government is planning to sell up to 10 per cent stake each in real estate firms HUDCO and NBCC as also 3 per cent in NTPC through an offer for sale (OFS), which could fetch about Rs 59 billion to the exchequer.
At the current market price, a sale of 10 per cent in HUDCO and NBCC could fetch about Rs 10 billion and Rs 12 billion to the exchequer. NTPC's 3 per cent OFS would fetch about Rs 3,700.
The source said that depending on market condition, the stake sale will happen.
With regard to state-owned HUDCO and NBCC, the ministry is keeping the companies ready to launch it as and when the time is ripe.
HUDCO and NBCC OFS will take time, could be in October-December quarter, the source said.
The source said one-year lock-in requirement is over and government can now go ahead with follow on offers or OFS. The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times.
The government had last sold 15 per cent stake through an OFS in NBCC for about Rs 22 billion in October 2016.
Currently, it holds 89.81 per cent in HUDCO and 73.69 per cent NBCC. In NTPC, its stake stands at 61.71 per cent.
The share sales would help the government move further towards the Rs 80,000 crore disinvestment target of the current fiscal. It has so far raised Rs 90 billion.