NEW DELHI: The government on Thursday cleared the proposal to sell 10% of its stake in flagship refiner-marketer IndianOil Corporation with the aim of mopping up Rs 3,750 crore at the current market price.
The company's scrip closed at Rs 195.75, down 4.84% on the BSE on Thursday. At the current market price, the sale of 19.16 crore shares would fetch Rs 3,750 crore to the exchequer.
The government holds 78.92% in the company. The disinvestment department has already selected five merchant bankers -- Citibank, HSBC, UBS Securities, SBI Capital and J M Financial -- to manage the stake sale of the oil major.
0 comments:
Post a Comment