State-owned Indian Oil Corporation is "ready" to buy out the government's balance 26 per cent stake in the oil marketing company IBP and make it a 100 per cent owned subsidiary.
IBP Company Ltd will invest Rs 500 crore (Rs 5 billion) in setting up 500 fuel retail outlets during the next financial year, Arun Jyoti, managing director of the company, said in Korba (Chhattisgarh) on Monday.
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
IBP Co Ltd has informed BSE that a meeting of the Board of Directors of the company is scheduled on January 24, 2003 to consider Unaudited Financial Results of the Company for the third quarter ended December 31, 2002 of the Financial Year 2002-03.\n\n
IBP Co Ltd plans to source fuel for its retail network from Reliance Industries Ltd's Jamnagar refinery in Gujarat and the upcoming refinery of Nagarjuna Oil, according to the draft prospectus filed by the company.
The Centre will sell 26 per cent of its stake in public sector oil marketing company IBP Ltd to the general public, its chairman M S Ramachandran said in Kolkata on Wednesday.
In an online chat hosted by Get Ahead on August 23, Aziz Manva, head, Testfunda.com addressed reader queries on how to crack 'subjective selection'for IBPS BankPO exam. The exam is scheduled on September 18, 2011.
With almost 25,000 seats up for the taking the Common Written Exam for Probationary Officers is a golden opportunity for candidates aspiring for jobs in India's public sector banks.
With almost 25,000 seats up for the taking the Common Written Exam for Probationary Officers is a golden opportunity for candidates aspiring for jobs in India's public sector banks.
IBP Company Ltd has posted a net profit of Rs 13.20 million for the quarter ended December 31, 2002 as compared to Rs 666.20 million in the quarter ended December 31, 2001.
Last minute tips to ace the Common Written Examination for probationary officers for public sector banks.
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In today's chat, Anil Nagar of CareerPower will take questions on how to prepare for the Institute of Banking Personnel Selection's Bank PO exam.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
In a major technological breakthrough, oil retailer IBP Co Ltd has developed cryogenic trucks for transporting liquefied natural gas that eliminates need for conventional gas pipelines.
State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
Bharat Petroleum Corp, Hindustan Petroleum Corp and IBP will turn financially sick by next year as losses arising from freeze on fuel prices are set to erode their net worth, according to oil ministry estimates.
The year 2012 saw some interesting breakthroughs in the field of education for Indian students. While some brought joy, others spelt confusion and further added to their woes. We explore
India's leading listed public sector bank is hiring and here is how YOU can apply!
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
The government on Friday said it had started talks with Japanese auto major Suzuki for offloading its remaining equity in joint venture Maruti Udyog Ltd.
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram next week to discuss a package to bail out public sector oil firms that have been suffering huge losses on account of selling fuel on discounted prices.
The benefit to the retail investor in the government's divestment programme is the fact that investors are allotted the shares at 5 per cent below the offer price finally arrived at through the book-building process.
The government on Tuesday said it will look into the reasons for poor response to the public issues for sale of its equity in various public sector units.
The bonds will help oil marketing companies - IOC, HPCl, Bharat Petroleum and IBP Ltd - to cover their under-recoveries.
The government will provide private companies subsidy equivalent to that given to state retailing firms on LPG, petroleum secretary B K Chaturvedi said.
Government has scrapped kerosene imports by private companies and decided that only state-run firms will import the fuel to end its adulteration in diesel.
Consequent to the Supreme Court's verdict on HPCL, BPCL divestment the government is understood to have halted the sale of its residual equity in privatised companies like Videsh Sanchar Nigam, IBP and IPCL.
The Indian government has lifted the ban on setting up of petrol pumps and cooking gas agencies by allowing state-run oil firms to appoint dealers on their own.
Union Divestment Minister Arun Shourie on Friday said the initial public offering to pare the government's stake in five companies - VSNL, Balco, IPCL, CMC and IBP would be done within the next six months.
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