OIL offer for sale to be completed this week

The government would complete the Oil India Limited (OIL) offer for sale this week. It has lined up the NTPC offer seven to eight days after the OIL stake sale.

A senior finance ministry official said the OIL offer for sale would be completed by Friday. The pricing of the OIL offer would be decided soon, the official added.

“A gap of seven to eight days is required between two issues, and this will be followed while deciding on the exact date for the NTPC offer,” said the official.

For the NTPC offer for sale, the government is conducting road shows in the US, the UK, Japan, Singapore and Hong Kong. Officials from the Department of Disinvestment said the road shows had seen good response.

While the divestment of 10 per cent government stake in OIL is expected to fetch about Rs 3,000 crore, the government is slated to garner about Rs 13,000 crore by selling 9.5 per cent stake in NTPC. So far this financial year, the government has already collected about Rs 6,900 crore through disinvestment.