Government to sell stakes in state-run companies in the next three months

New Delhi: India will sell part of the government's stake in some state-run companies in the next two to three months, said Finance Secretary Arvind Mayaram ,without naming any company. The government has set a target of $10.5 billion from asset sales during the current fiscal year to March 2015 to help plug its deficit.

The finance ministry this week short-listed banks to manage share sales in top energy explorer Oil and Natural Gas Corp and hydroelectric power generator NHPC Ltd, according to sources with direct knowledge.