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IOC’s roadshows in S’pore, Hong Kong to sell stake

IOC’s roadshows in S’pore, Hong Kong to sell stake
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For the sale of its 10 per cent stake in the country’s largest oil firm Indian Oil Corp (IOC), the Union government is holding investor meetings this week in Singapore and Hong Kong. The government has already held roadshows in the US and the UK last week for the purpose.

The Union Ministry of Petroleum and Natural Gas and the Department of Disinvestment will hard-sell the IOC stake sale, which is crucial for meeting government’s investment target of Rs 40,000 crore. The proposed issue of 19.16 crore IOC shares is likely to fetch as much as Rs 3,900 crore at current prices.For the sale of its 10 per cent stake in the country’s largest oil firm Indian Oil Corp (IOC), the Union government is holding investor meetings this week in Singapore and Hong Kong. The government has already held roadshows in the US and the UK last week for the purpose.

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