The Hindu Business Line : IPCL: Sale document to be filed this week

THE Government will soon approach the Registrar of Companies with the offer document for the sale of its residual equity in Indian Petrochemicals Corporation Ltd (IPCL) following the final clearance of the public offer by SEBI.

"The sale document for the public offer of IPCL will be registered with RoC this week," the Disinvestment Ministry sources said. The Government is selling its residual stake of 24 per cent in Reliance-controlled IPCL to institutional and retail investors.

As per the timetable drawn up by the Ministry of Disinvestment, IPCL and CMC public offer would hit the market between February 16 and February 24, followed by IBP and Dredging Corporation of India (DCIL) between February 26 and March 2.

The public offers of the two oil companies — ONGC and Gail India — have been scheduled for March.

ONGC public offer for sale of 10 per cent Government equity in the market would take place between March 3 and March 12.

The Government would offload its 10 per cent equity in Gail between March 13 and March 19.

More Stories on : Petrochemicals | Public Offer | Disinvestment

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