India to sell 10% of state-controlled Housing and Urban Development Corporation
Reuters
New DelhiUpdated: Jun 15, 2016, 04:13 PM IST
Many Indians living in rural areas keep large amounts of cash at home because of a lack of banks. Photograph:(Getty)
Follow UsIndia will sell a 10 per cent stake in state-controlled Housing & Urban Development Corporation Ltd. (HUDCO) through an initial public offering, Telecoms Minister Ravi Shankar Prasad said on Wednesday after a cabinet meeting.
The government wants to raise 565 billion rupees ($8.42 billion) from the sale of stakes in state-owned enterprises in the 2016/17 financial year. That is 19 per cent lower than last year's target, which the government failed to hit.
(Reuters)
The government wants to raise 565 billion rupees ($8.42 billion) from the sale of stakes in state-owned enterprises in the 2016/17 financial year. That is 19 per cent lower than last year's target, which the government failed to hit.
(Reuters)