IOC expects to launch its follow-on public offer (FPO) in the third or fourth week of January, according to Chairman B M Bansal.
The government plans to offload 10 per cent of its equity holding in the state-run refiner through the FPO, and an equal stake will be diluted by the company. Post the stake sale, the government’s holding will reduce from the current 78.92 per cent to 64.57 per cent.