Central Cabinet has decided to sell 15% shares of the Public Sector Undertaking NBCC India Limited in INR 1706 Crores. The purpose is to meet the target of INR 56,500 Crores in the financial year 2016 -2017. NBCC has witnessed a drop of 12% in the shares after this decision of Central Cabinet.
The information about this decision of Central Cabinet was provided by Law Minister Shri Ravi Shankar Prasad. Currently the shares of Government in the PSU are 90 %. They have decided to reduce their shares to 75 % to meet the target mentioned above. Current Market cap of the company is INR 14274 Crores .