India to raise $2.18b by divesting stakes in 18 PSUs to 75%: Report

An office worker looks out at commercial and residential towers under construction in Mumbai, India. Photographer: Dhiraj Singh/Bloomberg

India’s government aims to raise up to 150 billion rupees ($2.18 billion) by reducing its stake in 18 state firms to 75%, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit.

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