Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / People/  Videocon appoints bankers to restructure oil & gas biz
BackBack

Videocon appoints bankers to restructure oil & gas biz

Videocon appoints bankers to restructure oil & gas biz

Premium

Mumbai: Diversified Videocon Industries Ltd said it has appointed merchant bankers ICICI Securities and Morgan Stanley to help unlock value from its oil and gas assets through an initial public offering or demerger, a top official said on Monday.

“We have appointed merchant bankers to help us unlock value from our oil and gas assets and we will decide based on what decision they take," Venugopal Dhoot, Chairman told newschannel CNBC TV18.

“We have appointed ICICI Securities and another foreign merchant bank Morgan Stanley, who is also working on that," he added.

The company earlier in the day said it had discovered hydrocarbons in the Tarakan basin of Indonesia.

Last month too, it had announced a gas find in a second well in Mozambique in Africa.

At 1.48 p.m., shares of the company were up 2.11% at Rs258.5 in a firm Mumbai market.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 01 Nov 2010, 02:01 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie