Indian government raises $585 million from Oil India sale

The offer for sale was about 2.6 times covered and the lowest clearing price equalled a 3.7% discount to the previous day’s close.
<div style="text-align: left;"> Oil India accounts for about 10% of domestic crude output </div>
<div style="text-align: left;"> Oil India accounts for about 10% of domestic crude output </div>
February 04, 2013

The Indian government was able to pocket at least Rs31.26 billion ($585 million) from its sale of a 10% stake in Oil India on Friday, bringing it one step closer to its target of raising $5.6 billion from asset sales in the current fiscal year.

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