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.
According to data published on the websites of the Bombay and National stock exchanges, investors subscribed to about 154.14 billion shares in the oil and gas producer, which left the deal close to 2.6 times covered. The weighted average price of the bids received also referred to as the indicative price was Rs517.99 per share, which was a slight premium to the floor price of...
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