The Finance Ministry has invited proposals from merchant bankers and selling brokers for offloading 10 per cent of its stake in oil refining-cum-marketing major, Indian Oil Corporation. Currently, the Centre owns 68.57 per cent in the company. Earlier this month, the Ministry initiated inter-ministerial consultations for the government's stake dilution in Indian Oil. Ministries have been asked to give their comments by January 27, after which a final call will be taken. The government also intends to disinvest 5 per cent stake in BHEL and 10 per cent in NALCO. It has invited bids for appointment of merchant bankers and selling brokers for both the companies. Published on January 22, 2015