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.