New Delhi Taking the first step towards raising R30,000 crore from disinvestment during the current financial year, the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the disinvestment of 10% paid-up equity capital of National Mineral Development Corporation (NMDC).

The government currently holds 90% stake in the mineral exploration company, and post the share sale, the stake will come down to 80%. The divestment will happen through the offer for the sale of shares through Stock Exchange (OFS) method and is expected to fetch fetch the government over R7,000 crore.