Indian government sells 10% stake in IOC

Q.  From which of the following organisations the government will sell 10 percent stake?
- Published on 31 Aug 15

a. HAL
b. IOC
c. GAIL
d. CEL

ANSWER: IOC
 
It can fetch about 9,500 crore rupees to the exchequer. The floor price for the share will be announced on 22nd Aug’15 and the Offer for Sale will take place on 24th Aug’15. Presently, the government holds 68.57 percent shares in IOC, the biggest oil refining and marketing company in the country. The stake sale in IOC will be the fourth disinvestment this fiscal. The earlier 3 stake sales had raised over 3,000 crore rupees. The government is targeting to raise 69,500 crore rupees from disinvestment in the current fiscal.

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