Home >Companies >News >Oil India share auction base price set at 5.6% discount
The Indian government will sell a 10% stake in Oil India through the auction, as part of its drive to raise `30,000 crore by selling shares in some state enterprises in the 2012-13 fiscal to March. (The Indian government will sell a 10% stake in Oil India through the auction, as part of its drive to raise `30,000 crore by selling shares in some state enterprises in the 2012-13 fiscal to March.)
The Indian government will sell a 10% stake in Oil India through the auction, as part of its drive to raise `30,000 crore by selling shares in some state enterprises in the 2012-13 fiscal to March.
(The Indian government will sell a 10% stake in Oil India through the auction, as part of its drive to raise `30,000 crore by selling shares in some state enterprises in the 2012-13 fiscal to March.)

Oil India share auction base price set at 5.6% discount

Floor price for the auction will be `510 a share, as compared with its Thursday closing price of `540

Mumbai: The base price for state-run Oil India Ltd’s share sale, to take place on Friday, has been set at a 5.6% discount to its share price, the company said, in a deal that will raise about $575 million.

The Indian government will sell a 10% stake in Oil India through the auction, as part of its drive to raise 30,000 crore by selling shares in some state enterprises in the 2012-13 fiscal to March.

The floor price for the Oil India auction will be 510 a share, as compared to its Thursday closing price of 540. At the floor price, the government could raise about $575 million through the stake sale.

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