Shares of Indian Oil Corp slumped to two week lows. Know why!
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The government controls 68.57 percent stake in Indian Oil, the nation's largest refiner and retailer of fuel products, and intends to sell 10 percentage point stake in the company to raise up to 9,400 crore rupees in a move to bridge its
The government set a floor price of 387 rupees/share for the sale of 24.279 crore shares and retail investors are being offered a discount of 5 percent on that price, which comes to 367.65 rupees per share.
As of now the shares fell 15.50 rupees, or 3.9 percent, to 379.25 rupees on the
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Image credit: Indiatimes
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