SME Times is powered by   
Search News
Just in:   • Renewed growth concerns  • Russian economy should not develop in isolation: Putin  • Markets cede gains on profit booking  • No one's personal fiefdom, says Mistry; Tatas hit back  • After 74-day struggle, Jayalalithaa loses battle with life 
Last updated: 27 Sep, 2014  

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

oil.jpg
   Top Stories
» RBI expected to cut interest rate on Wednesday
» Service sector hit by note ban, biggest fall in Nov
» Demonetisation to hurt economy in long-term: Experts
» Publishing industry still to overcome shock of demonetisation
» 'India will be second largest e-commerce market by 2034'
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
69.40
67.70
UK Pound
87.25
84.45
Euro
73.90
71.40
Japanese Yen 61.00 59.00
As on 06 Dec, 2016
  Daily Poll
Do you support Modi government's demonetisation move?
 Yes
 No
 Can't say
  Commented Stories
» Moving to a cashless economy(28)
» Starting an import export business: Basic guide for beginners(6)
» Govt mulls 'Online Udyog Aadhaar Form' to ease SME registration(2)
» IRCTC's conceirge service now on phone(1)
» Modi again seeks support for demonetisation(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter