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

Govt owns 58.3% of Indian Oil Corp

Reuters  |  Mumbai 

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.

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First Published: Fri, May 26 2017. 18:11 IST