ET reported that the government may divest stake in Hindustan Copper Limited by September end and move towards meeting the disinvestment target for 2012 to 2013.

Mr Mohammad Haleem Khan secretary in the Department of Disinvestment said that "This quarter, RINL and Hindustan Copper may come."

The government is already working on the initial public offer of Rashtriya Ispat Nigam Limited and has launched roadshows for it. The 10% IPO of RINL could fetch the exchequer around INR 2,500 crore.

As per a note prepared by the Finance Ministry, DoD is looking at 10% stake sale in HCL. The company will also issue fresh shares. At the current market price, the government could mop up over INR 2,000 crore through stake sale in HCL. The government holds 99.59% stake in HCL.

DoD is likely to divest stake in the listed PSUs through the institutional placement or offer for sale route. The government has set a target of INR 30,000 crore from disinvestment this fiscal. It had managed to raise only about INR 14,000 crore through disinvestment last fiscal against the INR 40,000 crore target.

Source - Economic Times

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