An empowered group of Ministers will meet on January 9 to take a final decision on divesting shares of Indian Oil Corporation Ltd, said M. Veerappa Moily, Minister for Petroleum and Natural Gas.

The ministerial group is headed by Finance Minister P. Chidambaran.

“I am against giving it (IOC shares) at throwaway price. It should be at a better price and the EGoM would decide whether to go for disinvestment or not,” Moily, told mediapersons on Monday.

IOC share closed at Rs 204.40, up 0.54 per cent, on the BSE on Monday.