The government has decided to revive the decision to offload 2.5 per cent of its stake in Indian Oil Corporation (IOC).
It has instructed the lead manager to the disinvestment exercise, JM Morgan Stanley, to find out the market's appetite for the issue. The lead manager has been asked to focus on the price the issue can fetch.
The government's instruction was conveyed on Monday. A response is expected by next week. In case the government decides to go ahead, the issue would probably hit the market by the second week of July.
The government is planning to offload 20 million shares. This could fetch Rs 50
