SME Times is powered by   
Search News
Just in:   • RBI rate cut keeps Sensex hopes alive  • All set for India's first high speed train  • 'Government needs infra push to catalyse economy'  • Nepal nod for Reliance, Satluj to invest billions of rupees  • CII to support agricultural sector's growth 
Last updated: 27 Sep, 2014  

Oil.9.Thmb.jpg Govt to divest 10 pc stake in Oil India

oil.jpg
   Top Stories
» India's strong leadership led to ending WTO impasse: Sitharaman
» Forex up $ 419 mn
» Diaspora must be part of India's development: PM
» Upcoming FTP: EPCES hopes for exporter friendly policy
» Indian firms' October borrowings at USD 2.78 bn up 44 percent
SME Times News Bureau | 31 Jan, 2013
The government will raise at least Rs.2,500 crore (USD 465 million) by divesting 10 percent stake in Oil India (OIL), an Empowered Group of Ministers (EGoM) meeting here decided Wednesday.

Announcing this, Oil Minister Veerappa Moily told mediapersons after the meeting that the disinvestment involved 60.1 million OIL shares through the offer for sale (OFS) route.

"It has been communicated to stock exchanges," Moily said.

Petroleum Secretary G.C. Chaturvedi said the disinvestment will take place Feb 1. "Roughly we will raise Rs.2,500-3,000 crore," he said.

The government now holds 78.43 percent stake in the company. This would come down to 68.43 percent after disinvestment.

The government has so far raised Rs.69 billion (USD 1.25 billion) through its disinvestment programme.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
61.90
60.90
UK Pound
99.50
97.30
Euro
78.00
76.15
Japanese Yen 54.65 53.40
As on 23 Nov, 2014
  Daily Poll
Do you agree that exports decline in October is an alarming situation?
 Yes
 No
 Can't Say
  Commented Stories
» History of Lok Sabha elections(4)
» Govt schemes - are they reaching SMEs(3)
» Starting an import export business: Basic guide for beginners(3)
» Govt mulls innovation fund to boost R&D in MSMEs: Mishra(2)
» Govt launches 'Niryat Bandhu' scheme for start-up SMEs(2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter