Press Esc to close
Monday 20 February 2017
News updated at 12:12 AM IST
Weather
Max: 29.3°C
Min : 15.9°C
In Bengaluru
clear sky

Government to sell 10 percent stake in Indian Oil

New Delhi, Aug 2, 2013 (IANS):
The government has decided to sell 10 percent of its stake in the country's largest petroleum retailer Indian Oil Corporation.

“After this disinvestment the government of India share-holding in the company would come down to 68.92 percent,” the finance ministry said in a statement Friday.

The decision was taken by the Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh Thursday evening.

“The disinvestment will be through Offer for Sale (OFS) method in the domestic market according to the SEBI rules and regulations,” it said.

The proposed divestment is likely to fetch around Rs.3,700 crore at the current market price.
The government hopes to raise Rs.40,000 crore through stake sales in the current financial year that began April 1.

The share price of Indian Oil Corporation slumped 2.48 percent to Rs.190.90 at the Bombay Stock Exchange.

 

Go to Top

Photo Gallery
Theater Person Lakshmi Chandrashekar in an interview to Prajavani Metro for ' Naa Kanda...

Theater Person Lakshmi Chandrashekar in an interview to Prajavani Metro for ' Naa Kanda...

A n aircraft take off in a backdrop of sun set on the last day of the 11th biennial edition...

A n aircraft take off in a backdrop of sun set on the last day of the 11th biennial edition...

A Truck caught fire , at Road in Tinsukia, Assam on Saturday...

A Truck caught fire , at Road in Tinsukia, Assam on Saturday...

Virat Kohli speaks at 49th All India Central Revenue Sports Meet ...

Virat Kohli speaks at 49th All India Central Revenue Sports Meet ...

Indian Air Force's helicopter aerobatic team 'Sarang' on the last day of the 11th Biennial edition..

Indian Air Force's helicopter aerobatic team 'Sarang' on the last day of the 11th Biennial edition..

Skycat Wingwalkers, the Scandinavian aerobatic team, makes a heart on the last day of AERO INDIA...

Skycat Wingwalkers, the Scandinavian aerobatic team, makes a heart on the last day of AERO INDIA...

A three-months-old hippopotamus is seen with its mother Pippa at the Le Cornelle Animal Park...

A three-months-old hippopotamus is seen with its mother Pippa at the Le Cornelle Animal Park...

Bollywood actor Neil Nitin Mukesh with his wife Rukmini during their wedding reception in Mumbai...

Bollywood actor Neil Nitin Mukesh with his wife Rukmini during their wedding reception in Mumbai...

A ball of fire from explosives goes up during the ongoing U.S.-Thai joint military exercise...

A ball of fire from explosives goes up during the ongoing U.S.-Thai joint military exercise...

Sibrerian birds frolic over Narmda River waters in Jabalpur...

Sibrerian birds frolic over Narmda River waters in Jabalpur...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523