India seeks to raise $2.8b by merging state-owned power firms

India seeks to raise $2.8b by merging state-owned power firms

Photo: Fré Sonneveld/unsplash

India is planning to sell its stake in SJVN Ltd. and Power Finance Corp. to other government-controlled companies in deals that may fetch the federal government about 200 billion rupees ($2.8 billion), helping it to rein in the fiscal deficit amid growing risks of a slippage, people with knowledge of the matter said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter