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The Finance Ministry has invited proposals from merchant bankers and selling brokers for offloading 10 per cent of its stake in oil refining-cum-marketing major, Indian Oil Corporation. Currently, the Centre owns 68.57 per cent in the company.
Earlier this month, the Ministry initiated inter-ministerial consultations for the government’s stake dilution in Indian Oil. Ministries have been asked to give their comments by January 27, after which a final call will be taken.
The government also intends to disinvest 5 per cent stake in BHEL and 10 per cent in NALCO. It has invited bids for appointment of merchant bankers and selling brokers for both the companies.
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