The Department of Disinvestment (DoD) has moved Cabinet for selling 10 per cent shares in Indian Oil Corp (IOC), the nation's largest oil firm, to raise over Rs 7,000 crore.
DoD last week moved a draft note for consideration of the Cabinet Committee on Economic Affairs (CCEA) for selling 24.27 crore or 10 per cent shares out of Government holding of 78.92 per cent, through an offer for sale (OFS). It sought comments on the proposal ministries of law, petroleum, public enterprises and finance.