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India government to hire five banks for up to $993 million IOC share sale: IFR
May 26, 2017 / 12:00 PM / 2 months ago

India government to hire five banks for up to $993 million IOC share sale: IFR

1 Min Read

MUMBAI (Reuters) - The Indian government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a 3 percent stake sale in Indian Oil Corp that could raise as much as 64 billion rupees ($993 million), IFR, a Thomson Reuters publication, reported on Friday.

The government owns 58.3 percent of IOC, the country's biggest state-owned oil refining and marketing company.

Reporting by S. Anuradha of IFR; Editing by Rafael Nam

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