On diesel pricing
at Wednesday, September 22, 2010
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
