Rich PSUs to bail out divestment by buying stakes of other PSUs

Jan 30 2013, 02:01 IST
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SummaryLooking at ways to shore up funds to meet the runaway fiscal deficit, cash-surplus public sector companies like NMDC and Coal India will use a portion of their cash pile to pick up stakes in public sector companies slated to hit the market with share sales.

the target of Rs 30,000 crore. The department of disinvestment has lined up a slew of offers — the Oil India stake sale is expected to fetch Rs 2,500 crore and NTPC’s some Rs 12,000 crore. Other offers on the cards are those of MMTC, Nalco, Rashtriya Chemicals and Fertilizers and SAIL.

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