The government planning to collect about 9.5 crore through OFS. Disinvestment Secretary Aradhna Johari considered the Crude prices have been declining continue so that it is the best chance to bring the OFS. According to expert the decline of rupee cloud impact the oil prices.
The floor price for the OFS will be announced on Saturday 22 Aug, according to a stock exchange filing by Indian Oil. The company's shares declined 0.7% to close at Rs 394.45 on BSE on Friday. The benchmark Sensex fell 0.88%. The government currently holds a 68.57% stake in Indian Oil. At the current market price, the value of a 10% stake is more than Rs 9,500 crore.
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Source: moneycontrol.com
Source: economictimes
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