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The Cabinet has okayed divestment of 10% stake in Oil India, reports Newswire 18.
The government will divest Oil India stake to Indian Oil, HPCL and BPCL.
Indian Oil will get 5% stake in Oil India, while BPCL and HPCL will get 2.5% stake each in Oil India. The Cabinet has also okayed IPO in Oil India.
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