Govt initiates stake sale in IndianOil
New Delhi   06-Jun-2013

The government on Wednesday initiated the share sale process of IndianOil asking merchant bankers to express interest for managing the disinvestment, which could fetch over Rs6,800 crore to the exchequer.

"The government is considering to disinvest 10% paid-up equity capital of the company (IndianOil) through offer for sale (OFS) of shares by promoters through the stock exchanges," finance ministry said, while inviting expression of interest (EoI) for appointing merchant bankers.