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NTPC likely to buy Centre's stake in SJVN, discussions on with HP govt

Press Trust of India  |  New Delhi 

Power company is likely to acquire the Central government's stake in SJVN Ltd, an said.

However, the acquisition deal is stuck because of resistance from the (HP) government, the added.

The transaction would fetch the exchequer about Rs 6,700 crore at current market prices.

SJVN is a joint venture between and government, with the Centre holding 63.79 per cent stake and the latter holding 26.85 per cent at the end of September.

"We are looking at acquiring Centre's share in SJVN. The matter is stuck because of resistance from government. We are discussing it," the said.

At the current market price, sale of 63.79 per cent stake in SJVN would fetch the about Rs 6,700 crore.

The Cabinet Thursday approved PFC buying the government's 52.63 per cent stake in REC. The transaction would fetch the government Rs 15,000 crore.

The government has already mopped up over Rs 32,000 crore from CPSE disinvestment in the current fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 23:10 IST