Oil India IPO by SeptemberJune 2nd, 2009 - 4:41 pm ICT by IANS
New Delhi, June 2 (IANS) Oil exploration major Oil India Ltd (OIL) is likely to launch an initial public offering (IPO) in September, Petroleum Secretary R.S. Pandey said here Tuesday.
He, however, ruled out disinvestment in other state-owned oil giants Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC).
“There is no plan to divest stake in IOC and ONGC,” Pandey told reporters, adding: “But we expect an initial public offering of Oil India by September.”
He pointed out that OIL’s disinvestment had been in the pipeline for a long time, but was postponed repeatedly due to adverse market conditions.
OIL chairman N.M. Borah said the company board had been informed of a roadmap for the IPO.
Besides OIL, the government is also planning to sell stake in a few other state-run entities to raise resources to fund infrastructure projects.
In the interim budget, the government had calculated that it would generate Rs.1,120 crore from disinvestment.
- Revised disinvestment target in November: Official - Oct 01, 2011
- EGoM fails to decide on ONGC, BHEL stake sales - Feb 15, 2012
- 10 percent NBCC divestment okayed - Aug 11, 2011
- Bids worth Rs.12,766.75 crore received for ONGC shares - Mar 02, 2012
- Government to raise Rs.4,000 crore by selling stake in SAIL (Lead) - Jul 20, 2012
- Government allows state-owned firms to buy back shares - Mar 01, 2012
- Oil spill off Mumbai coast - Jan 21, 2011
- ONGC scrip soars after government nod for stake sale - Feb 29, 2012
- ONGC approves share split, bonus and special dividend - Dec 16, 2010
- No decision yet on Indian Oil Corporation's public offer - Dec 25, 2010
- ONGC likely to divest five percent by March 2011 - Nov 18, 2010
- MMTC stake sale next fiscal: Khullar - Dec 08, 2010
- Divestment can raise $95 bn, wipe deficit clean: Study - Jun 08, 2009
- Companies deferring public issue in bearish markets - Nov 28, 2011
- Rs.40,000 crore disinvestment target will be met: Official - Sep 13, 2011
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