The government plans to sell its stake in Rural Electrification Corporation to Power Finance Corporation at a premium, which could fetch about Rs 15,000 crore to the exchequer.
PFC would acquire the 52.63 per cent government stake in REC in a merger deal which is likely to fetch the exchequer around Rs 15,000 crore and help the government meet its Rs 80,000-crore divestment target for the current fiscal ending March.
The REC share closed at Rs 132.80 apiece on the BSE on Friday.
Sources indicated that the government would be selling its stake at a premium of about 15-20 per cent, which would enable it to meet the stake sale target.
