Indian government offers Oil India stake at 5.6% discount

The government has set a floor price of Rs510 for today’s sale of a 10% stake in the oil and gas producer, implying a deal size of at least $574 million.

<div style="text-align: left;"> Oil India’s R&D centre </div>

Anette Jönsson

February 01, 2013

The Indian government has set a floor price of Rs510 per share for its sale of a 10% stake in Oil India that will take place today. The floor price translates into a 5.6% discount versus yesterday’s close and indicates a minimum deal size of Rs30.66 billion ($574 million) — assuming that it sells all the shares.

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