Hong Kong: The government has hired five banks to
manage a stake sale valued at up to Rs 9,500 crore in state-run Indian
Oil Corp, IFR reported on Thursday, citing people familiar with the
deal.
The government tapped Citigroup, Deutsche Bank, JM Financial, Kotak and Nomura to handle the sale of a 10 per cent stake in the oil company, which at current market prices would be worth up to Rs 9,500 crore, added IFR, a Thomson Reuters publication.
Indian Oil didn't immediately respond to a Reuters request for comment on the share sale.
The government tapped Citigroup, Deutsche Bank, JM Financial, Kotak and Nomura to handle the sale of a 10 per cent stake in the oil company, which at current market prices would be worth up to Rs 9,500 crore, added IFR, a Thomson Reuters publication.
Indian Oil didn't immediately respond to a Reuters request for comment on the share sale.
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