After all the speculations and conjectures, Indian Oil Corporation (IOC) offer for sale (OFS) is likely to be out this week. Sources say IOC divestment is likely to be carried out on Thursday (January 9)
The oil ministry has tried to convene an inter-ministerial group tomorrow and they will meet on Wednesday to perhaps decide the pricing of the OFS.
The oil ministry has raised concerns regarding the valuation and timing of the issue. Sources say that ministry has not even responded to any of those concerns yet. The Department of Disinvestment has also reached an arrangement with LIC.
LIC, in all likelihood, is going to be a large strategic investor in the OFS.
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