Disinvestment of 10 Percent Paid Up Equity in Oil India Ltd.
The Cabinet Committee on Economic Affairs has approved the disinvestment of 10 percent paid up equity of Oil India Ltd. (OIL) out of the Government of India's holding of 78.43 percent through an offer for sale of shares through stock exchanges as per SEBI rules and regulations. After this disinvestment, the Government of India's shareholding in the company would come down to 68.43 percent.
The paid up equity capital of the company, as on 31st March, 2012 is Rs.601.13 crore. The Government of India holds 78.43 percent of the paid up capital in OIL. OIL is a listed Navratna Central Public Sector Enterprise and is OIL is engaged in the exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG.
Link is being provided for easy reference to Oil India Ltd. website: