The government will sell shares in three state-owned firms through a share auction on Friday to meet the market regulator's rules for a minimum 10 per cent public shareholding in state firms.
India will sell 1.02 per cent stake in State Trading Corp, 5 per cent in Indian Tourism Development Corp and 3.56 per cent stake in Neyveli Lignite Corp, Disinvestment Secretary Ravi Mathur told reporters.
The government hopes to raise Rs 350 crore from the Neyveli sale, Mr Mathur said.
The government aims to raise RS 40,000 crore through stake sales in the current fiscal year ending March 2014, but has so far only managed to raise around $160 million.
Copyright: Thomson Reuters 2013
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