Govt to hire 5 banks for up to Rs 6,400 crore IOC share sale

Govt owns 58.3% of Indian Oil Corp

The government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a three per cent stake sale in Indian Oil Corp that could raise as much as Rs 6,400 crore, IFR, a Thomson Reuters publication, reported on Friday.

The government owns 58.3 per cent of IOC, the country's biggest state-owned oil refining and marketing company.