Sterlite Industries will reportedly offer to buy the government's 49% stake in Balco at a mutually agreed price outside of an earlier call option plan, as both parties are keen to resolve stake-sale talks deadlocked for a year.
According to reports, the government has managed to raise only a fraction of it so far, hemmed in by an adverse equities market and is now willing to consider a fresh proposal from the company. The company will also examine alternatives that will be outside the call option route.
If Sterlite's proposal is accepted , it will complete 100% ownership of Balco besides helping the government meet its disinvestments target for the current fiscal, added reports.