The government today said it will divest equity in state-owned National Building Construction Corporation (NBCC) in the second half of the current fiscal.

The disinvestment in NBCC will be in addition to the equity sale of major PSUs like SAIL and ONGC, which are likely to hit the market in June and July, respectively.

"In June, we will do FPO of SAIL and in July, we will do disinvestment of 5 per cent in ONGC. Also, NBCC and RINL will come up in the later half of the current fiscal," Disinvestment Secretary Sumit Bose told reporters here.

He said the disinvestment of Hindustan Copper has been pending since last year. "They are taking certain investment decisions in new mines. As soon as that is completed, we will take a call on time of the issue," he added.

Bose said Cabinet approval for the stake sale in SAIL, ONGC and Hindustan Copper is already place. SAIL is expected to raise around Rs 7,000-8,000 crore, going by the prevailing market price of the stock. Besides, a 5 per cent disinvestment in ONGC will fetch the government over Rs 13,000 crore at the current market price.

The government has proposed a disinvestment target of Rs 95,000 crore from the sale of shares in public sector companies over the next three fiscals, including Rs 40,000 crore in the current fiscal.

As part of the plan, the government is currently in the process of diluting its stake in Power Finance Corporation (PFC).

The issue which begun today, will close on May 13.

The government is likely to garner over Rs 1,100 crore from diluting its 5 per cent stake in PFC through a follow-on public offer (FPO). Besides, there would also be a 15 per cent fresh equity sale worth over Rs 3,300 crore.

Last fiscal, the government had raised Rs 22,400 crore through disinvestment in PSU companies by coming out with three IPOs and three FPOs.

"We had deferred the SAIL and ONGC issue last fiscal. We are confident of achieving the Rs 40,000 target for the current fiscal," Bose said.