The government, for the purpose of managing its share sale in MMTC and STC, invited merchant bankers, the share sale would fetch around Rs 650 crore to the exchequer.

The government aims to disinvest 15 percent each in Metals and Minerals Trading Corporation of India (MMTC) and State Trading Corporation (STC) through an offer for sale.

The stake sale in MMTC at the current market price would fetch Rs 570 crore, which that in STC would garner Rs 84 crore to the exchequer.

At present the government holds 89.93 percent in MMTC and 90 percent in STC.

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