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Oil India May Sell Shares to Public, Refiners by September

27 May 2009 Evaluate

Oil India Ltd., the second-biggest state-run energy explorer, may sell shares in an initial public offer by September. The federal government will sell another 10 percent to state-run refiners, including OIL India.

 

India will sell stakes in companies as promised by the ruling Congress party’s election manifesto, Palaniappan Chidambaram, who was in charge of finance and home in Singh’s previous administration, said on May 18. Singh, the first prime minister to win re-election after serving a full term since 1971, doesn’t need the support of Communist lawmakers who oppose the sale of the government’s stake in companies.

 

The explorer has started discussions with bankers, including HSBC Securities & Capital Markets, JM Financial Ltd., Citigroup Global Market India Pvt. Ltd. and Morgan Stanley India Pvt., to complete the share sale plans.

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Oil India Share Price

477.40 6.45 (1.37%)
13-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 287.50
Oil India 477.40
Jindal Drilling&Inds 547.00
Deep Industries 462.80
Asian Energy Service 300.20
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