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Government plans to sell 10% stake in IOC in FY15

15 Jan 2015 Evaluate

In a bid to raise around Rs 8,150 crore, the government is likely to sell 10% of its stake in Indian Oil Corporation (IOC) this fiscal. The Department of Disinvestment (DoD) has circulated a draft note for the consideration of the Cabinet Committee on Economic Affairs (CCEA) for sale of 10% out of government’s 68.57% stake in IOC.

The plan to sell 24.27 crore equity shares in IOC was mooted after big-ticket disinvestment in Oil and Natural Gas Corp (ONGC) got stuck in subsidy woes.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Peers
Company Name CMP
Reliance Industries 1166.00
Indian Oil Corpn. 132.00
Bharat PetroleumCorp 301.00
HPCL 346.00
MRPL 164.70
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