Govt considering 10% stake sale in Oil India

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Govt considering 10% stake sale in Oil India

The government is finally all set to step up the divestment action with several issues planned from September onwards, reports CNBC-TV18's Aakansha Sethi.

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Excerpts from Reporter's Diary on CNBC-TV18 Watch the full show » Oil India BSE | NSE 23/05/12 Are Mutual Funds betting on Oil India? Other Stocks in this news Steel Authority of India | Indian Oil Corporation |

The government is finally all set to step up the divestment action with several issues planned from September onwards, reports CNBC-TV18's Aakansha Sethi.

The government is considering to sell 10% stake in Oil India and the Finance Ministry is already in discussion with the Petroleum Ministry for the follow-on-offer (FPO). Oil India issue is likely to be rolled in the fourth quarter of this fiscal.

The Finance Ministry is also planning to divest 10% in SAIL . However, SAIL's plans to raise fresh equity could be shelved. It is also mulling sale stake of 10% each in Nevyeli Lignite, MMTC and Hindustan Aeronautics (HAL).

Meanwhile, FPO of IOCL is likely to be rolled out in the fourth quarter of FY12. The FinMin is also looking at FPOs in defense PSUs.

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