In a surprise move, the Cabinet Committee on Disinvestment (CCD) which met today has decided to offload 51 per cent government stake in Indian Petrochemicals Corporation Ltd (IPCL) in two phases.
In the first phase, the government will sell 26 per cent equity to a strategic partner within the next 90 days and give it management control. Another 25 per cent will be sold within the next one to five years.
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