New Delhi, Sep 10 - State-run power utility NTPC Thursday said the government may sell up to 5 percent in the company before March.

'The government is looking to dilute between 4.7 to 5 percent. We are awaiting the government's approval for this,' NTPC chairman R.S. Sharma told reporters on the sidelines of a power conference.

'The government wants this before March,' Sharma said after the conference, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

The move is part of the second United Progressive Alliance (UPA) government's decision to offload stake in state companies.

Upstream oil company OIL India's initial public offer closes Friday, while hydel power major NHPC too had made a went public last month.