India is planning to sell stakes worth $5.4 billion in seven of its state-run companies during FY18, likely through the offer-for-sale route -  auctioning of the shares on India's stock markets. The government is making the move to raise money for spending on infrastructure and rural development, and in order to manage its fiscal deficits. 

The government aims to raise around $11.26 billion through stake sales during the year. It plans to sell 10% each of power utility NTPC, the country's largest steelmaker SAIL and hydropower producer NHPC. 

It also plans to sell 5% of Rural Electrification Corporation (REC), 10% of Power Finance Corp (PFC) and 15% of mining company NLC India. The seventh company is oil retailing firm Indian Oil Corporation (IOC), of which it plans to offload 3%. The government is hoping to raise a substantial amount from stake sales in these companies in what has been a bullish market, where share prices of many of these firms have been holding above their SMAs.