Ok With Picking Up 5% IOC Stake: ONGC
  • Prabha Hedge
  • Jan 16 2014

January 16: The EGoM has approved the sale of government stake in Indian Oil through block deals to ONGC and Oil India. The government hopes to raise nearly Rs.5, 000 crore through this divestment. Speaking to Bloomberg TV India, ONGC Chairman Sudhir Vasudeva, said, “The government has agreed to not having any lock-in period for IOC stake. Hence, we have the option to sell IOC stake if there is a need for liquidity.”