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A proposal of stake sale in the state owned construction company NBCC India has been approved by the Union Cabinet with an aim of meeting the ambitious Rs 56,500 crore PSU disinvestment target in 2016-17.
According to sources, “The Union Cabinet has approved the proposal of follow-on public offer (FPO) by NBCC India to divest the central government’s stake in the company.”
The government, at present holds 90 percent in the company that has a market capitalisation of Rs 14,274 crore.
