NEW DELHI (TIP): The government has firmed up a list of PSUs for divestment of minority stakes in the fiscal beginning next month, starting with BHEL, as it gears up to raise Rs 41,000 crore through such stake sales in 2015-16.

Other companies which are on the list include NMDC, NALCO and IOC, with proposal for selling 10% stake in each. Besides, 5% stake sales in ONGC, PFC and REC are also on the cards. Official sources said the disinvestment department has completed overseas roadshows in London, Singapore and Hong Kong for a 5% stake sale in BHEL and the shares can be sold next month itself. At the current market price of around Rs 260 a share, a sale of 5% —or over 12.23 crore shares — in BHEL would fetch the exchequer about Rs 3,200 crore.

Sources said the disinvestment department feels shares of BHEL have been holding steady and the time may be right for going ahead with the stake sale. The government holds 63.06% in BHEL. In March 2014, the government had sold a 4.66% stake in BHEL to LIC through a block deal for around Rs 1,800 crore. According to sources, the process is on for disinvestment in other PSUs. Specifically for 5% stake sale in ONGC, the government is working out a subsidy-sharing roadmap to give clarity to investors.

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