Govt keen to sell stake in THDCIL, NEEPCO to NTPC this fiscal: Report

The government is keen to sell its stake in THDC India and North Eastern Electric Power Corporation (NEEPCO) to state-owned NTPC in the current fiscal, according to a source.

The acquisition is expected to fetch around Rs 10,000 crore to the exchequer.

“The government is keen to complete the transaction whereby the NTPC would acquire government’s stake in THDCIL (THDC India Ltd) and NEEPCO this fiscal only for meeting its revised disinvestment target of Rs 65,000 crore for the 2019-20,” the source said.

The government had earlier proposed to raise Rs 1.05 trillion from disinvestment during 2019-20. However, in the budget presented earlier this month, it reduced the divestment target to Rs 65,000 crore.