IOC disinvestment roadshows

Nov 12 2013, 04:35 IST
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SummaryThe issue of 19.16 crore IOC shares is likely to hit the market sometime in December.

The government will on Tuesday begin roadshows in the US for sale of its 10% stake in the nation's largest oil firm, Indian Oil Corp (IOC), that may fetch as much as Rs 3,900 crore. Roadshows

are planned in the US and London this week, sources said. Officials from the petroleum ministry and disinvestment department will hardsell IOCís stake sale, which is crucial for meeting the government's disinvestment target of R40,000 crore. The issue of 19.16 crore IOC shares is likely to hit the market sometime in December, they said.

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