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Govt appoints five banks to handle Indian Oil stake sale

Published by Metro India News Online on August 13, 2015 15:26:18 PM

In order to manage the stake sale of Indian Oil Corporation which is valued up to $1.5 billion, Government has appointed five banks, according to the IFR report citing people familiar with the deal on Thursday.

The government has decided to sell 10 per cent stake in the oil company, which is worth of Rs 9,500 crore approximately at the present market prices.

The government has chosen Deutsche Bank, Citigroup, JM Financial, Nomura and Kotak to handle the stake sale, added IFR.