The government's 10 per cent stake sale in Indian Oil Corp kicked off today with some demand coming in from retail investors in initial trade amid hefty sell-off in broader market.


The government is looking to raise about Rs 9,302 crore from sale of 24.28 crore shares in IOC through a one-day OFS route at a floor or minimum price of Rs 387 apiece.


The IOC share sale is the fourth disinvestment this fiscal but the biggest in 2015-16 so far. The sale, which began at 0915 hours, received some subscription from the retail investors, who are also getting 5 per cent price discount. As against 4.85 crore shares reserved for them, bids for over 2.86 lakh shares came in at 1025 hours as per the stock exchange data.