Govt To Raise Rs 14,500 Crore By selling Off ONGC, BHEL shares

The government of India is planning to raise Rs 14,500 crore through auction of ONGC and BHEL shares in the current financial year.

Government may sell off 5% stake of ONGC in the market to raise Rs 12,000 crore. Currently the government holds 74.14% stake in ONGC.

Government can earn Rs 2,500 crore revenue from auction of the BHEL shares.

This is a part of government’s plan to proceed with disinvestment in ONGC and BHEL.

The exact details of the proposal will be revealed very soon. The group of ministers headed by finance minister Pranab Mukherjee will meet in 2-3 days to finalize the strategy and planning.

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