Feb 5 (Reuters) - The Indian government expects to raise
around 120 billion rupees ($2.25 billion) by selling a 9.5
percent stake in state power utility NTPC Ltd in a
share auction on Feb. 7, Disinvestment Secretary Ravi Mathur
The floor price for the offer will be announced on
Wednesday, he said.
Share sales in state companies has been a key element of the
government's plan to bring down its fiscal deficit to 5.3
percent of gross domestic product by March-end to avoid a credit
downgrade from global ratings agencies.
The government aims to raise $5.6 billion by selling shares
in the 2012/13 fiscal year to March. Last week, it raised $585
million through a 10 percent stake sale in state explorer Oil
It expects to sell shares in four other state companies
before March-end, Mathur told reporters.
($1 = 53.26 rupees)
(Reporting by Prashant Mehra in MUMBAI; Editing by Anupama