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Thursday, February 04, 2010

Satluj Jal Vidyut Nigam IPO unlikely this fiscal

Power Minister Sushil Kumar Shinde says that the Satluj Jal Vidyut Nigam disinvestment is unlikely this fiscal, reports CNBC-TV18’s Akanksha Sethi.

The Power Minister has said that the Satluj Jal Vidyut Nigam initial public offering (IPO) is unlikely to happen in this fiscal and is expected, probably, in the next fiscal. The delay is due to procedural issues.

The government was expecting three power sector disinvestments this year. Rural Electrification Corporation (REC), Shinde, says is on track and will hit the market this fiscal.

Earlier, the Finance Minister Pranab Mukherjee had said that India will complete share sales through public offers in three state companies by the end of March. Divestment of 5% each in NTPC and Rural Electrification Corp and 10% in unlisted Satluj Jal Vidyut Nigam (SJVN) was under implementation, Pranab Mukherjee had told the lawmakers in Parliament in early December.

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