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Government divests 10% stake in IOC via off-market transaction

14 Mar 2014 Evaluate

The government has divested 10 percent stake in Indian Oil Corporation (IOC) for Rs 5340 crore via off-market transaction. The state-run ONGC and Oil India have increased 5% stack each in IOC at Rs 220 a share. ONGC's stake in IOC will go up to 13.77 percent.

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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