Arab Today, arab today india eyes auctions to meet stake sale target
Last Updated : GMT 03:55:26
Arab Today, arab today
Arab Today, arab today

India eyes auctions to meet stake sale target

Arab Today, arab today

Arab Today, arab today India eyes auctions to meet stake sale target

New Delhi - Arabstoday

India plans to kickstart stake sales in state-run companies in June — preferably through the auction of shares — to meet a target of 300 billion rupees ($5.65 billion) set for this fiscal year, the official in charge of disinvestment said on Monday. India aims to lower the fiscal deficit to 5.1 per cent in 2012/13, after it blew out to 5.9 per cent last year. “When you push an FPO (follow-on public offering), the market prices come under pressure. Hopefully, we will go more for ONGC-type auctions,” Mohammed Haleem Khan, who heads the government’s share sale programme in the ministry of finance, told Reuters in an interview. 

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