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EGoM fails to decide on Oil India’s stake sale pricing

25 Jan 2013 Evaluate

The Empowered Group of Ministers (EGoM), headed by Finance Minister P Chidambaram, failed to take any decision on pricing and timing of sale of government's 10% stake in explorer Oil India. The EGoM was expected to decide on pricing of 6.01 crore shares on January 25, so that the issue could hit the market on January 29, much as per the tentative schedule. However, the meeting was simply adjourned without any decision.

The government has been eyeing around Rs 3,000 crore through stake sale in the company, as this would help the Centre meet the Rs 30,000 crore disinvestment target set in the Budget.

Further, the government currently holds 78.43% stake in the company, which would come down to 68.43%, after disinvestment. The stock has grabbed many investors’ eye balls, ever since the government decided on partial decontrol of heavily subsidised diesel prices, a move that could mean OIL having to pitch in lesser subsidy.

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
View more..

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