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On diesel pricing  

Deregulate diesel before FPOs: IOC

State-owned IndianOil (IOC) wants diesel prices to be freed from government control before its twin follow-on public offers (FPOs), chairman B.M. Bansal said on Monday.

The government plans to divest its 5-10% stake in IOC and Oil and Natural Gas Corp. through separate FPOs to fetch about Rs. 24,000 crore this fiscal.

IOC also plans a public offer of its 10% expanded equity to raise close to Rs. 9,000 crore for part-financing its capital expenditure.

Mint, New Delhi, September 21, 2010

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