MUMBAI Aug 27 HSBC Holdings Plc and two Indian
investment banks will manage the Indian government's planned
stake sale in hydropower producer NHPC Ltd, two
sources with direct knowledge of the deal said on Wednesday.
IDFC Capital Ltd and Edelweiss Financial Services
Ltd are the other two advisors for the sale of an
11.36 percent government stake in NHPC. The stake is worth about
$436 million at current market price.
The federal government currently owns almost 86 percent of
To help plug its deficit, India's new government is looking
to raise a record $10.5 billion from asset sales during the
current fiscal year to March 2015. The finance ministry on
Monday mandated five banks to manage a $3 billion share sale in
top energy explorer Oil and Natural Gas Corp.
(Reporting by Devidutta Tripathy and Sumeet Chatterjee, editing
by Louise Heavens)