Roadshows for PFC, REC stake sale to begin on Jan 12

K R Srivats Updated - March 09, 2018 at 12:46 PM.

The roadshows for the Centre's proposed stake sale in state-owned Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will begin on January 12, official sources said.

This process will go on till January 16, it is learnt.

The Centre is looking to shed 5 per cent stake each in both the companies and aiming to complete the transaction in the third week of January.

Roadshows are likely to be held in various developed markets, including the US, Europe, Japan and Singapore.

The Centre has 72.8 per cent stake in PFC and 65.64 per cent stake in REC.

India is looking to mobilise Rs 58,425 crore through disinvestment in the current fiscal.

Besides the proposed stake sale in PFC and REC, the Centre is betting on stake sale in Coal India and second round of CPSE exchange traded fund to help achieve this year's disinvestment target.

Srivats.kr@thehindu.co.in

Published on January 8, 2015 05:52