ONGC, OIL buy 10% govt stake in IOC for 5,340 crore
New Delhi   26-Mar-2014

State-owned ONGC and Oil India Ltd (OIL) on Friday bought 10 percent government stake in IndianOil (IOC) for Rs 5,340 crore. The stake sale has doubled government's disinvestment proceeds for the current fiscal to Rs 10,434 crore.

In off-market transactions, Oil and Natural Gas Corp and OIL bought 5 percent stake each at Rs 220 per share.