Reuters logo
Government to hire five banks for up to $993 million IOC share sale
May 26, 2017 / 12:01 PM / 6 months ago

Government to hire five banks for up to $993 million IOC share sale

MUMBAI (Reuters) - The government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a 3 percent stake sale in Indian Oil Corp (IOC.NS) that could raise as much as 64 billion rupees ($993 million), IFR, a Thomson Reuters publication, reported on Friday.

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad March 2, 2012. REUTERS/Amit Dave/Files

The government owns 58.3 percent of IOC, the country’s biggest state-owned oil refining and marketing company.($1 = 64.4400 Indian rupees)

Reporting by S. Anuradha of IFR; Editing by Rafael Nam

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below