At the floor price, the government, will garner about Rs 9,302.21 crore. IOC’s share sale will be the fourth disinvestment this fiscal, but the biggest so far in 2015-16.
The government on Saturday fixed the floor price for selling its 10 per cent stake in Indian Oil Corporation (IOC) at Rs 387 a share — about 2 per cent below last closing — which is likely to fetch Rs 9,302 crore to the exchequer.The government, which holds 68.6 per cent interest in IOC, will sell 24.28 crore equity shares through an offer for sale (OFC) on Monday. Details