The Centre plans to sell stake in hydropower producer SJVN and Power Finance Corporation to other public sector companies to net close to Rs 20,000 crore to help maintain its FY19 fiscal deficit target, sources told Bloomberg.
The government will sell its 63.8 percent stake in SJVN to NTPC, India’s largest thermal power producer, to garner close to Rs 8,000 crore, while Rural Electrification Corporation will acquire 65.6 percent stake in PFC.
These deals showcase the government’s resolve to usher consolidation in the power space. Read more
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