Government to hire five banks for up to $993 million IOC share sale | Reuters

 Government to hire five banks for up to 3 million IOC share sale
| Reuters

MUMBAI The 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 (IOC.NS) 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.($1 = 64.4400 Indian rupees)

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

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Updated Date: May 26, 2017 21:45:06 IST