The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies “in a hurry”, saying at least two offers for sale should be first tested to gauge the market.
Now the government is planning roadshows in such a way that they help in attracting the maximum number of foreign investors.
Government may have difficulty in attracting investor attention for roadshows in US and Europe as it is close to Christmas, when many important investors would not be available for interaction.
While the Department of Disinvestment (DoD) is keen to kick-start roadshows for potential investors from Mumbai this week, some government and industry officials argue that the campaign should start after Christmas and New Year.
Some insiders are of the view that the dates for roadshows could be extended because there should not be a wide gap between the roadshows and the issue date.
Offer for sale provides a separate window to a promoter of a listed company to dilute its stake by way of auction.
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