Centre may sell about $2 billion shares in ONGC, IOC and OIL to meet divestment targets: report
Updated : November 16, 2018 11:13 AM IST
“The finance ministry is planning the mix of share sales and buybacks by state oil companies with about a fourth of the Rs 80,000-crore asset-disposal target having been met thus far,” the report said citing sources.
The government is looking to sell about 5 percent equity stake in Oil and Natural Gas Corp (ONGC), 3 percent in Indian Oil Corp (IOC) and 10 percent in Oil India Limited (OIL), which would amount to about Rs 16,500 crore or $2.3 billion at current market rates, the report said.
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