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Government to raise Rs 40,000 crore via 10% stake sale in IOC

06 Jun 2013 Evaluate

The government is planning to raise Rs 40,000 crore through share sale in state-run Indian Oil Corporation (IOC) via share offer. In this regard, the government has invited bids to appoint merchant bankers to manage a 10% share sale in the state-run company. The last date for submitting bids is June 26, 2013.

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 1186.10
Indian Oil Corpn. 130.70
Bharat PetroleumCorp 296.50
HPCL 343.10
MRPL 172.60
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