Indian Oil may form subsidiary for retail assets to unlock value
NEW DELHI: Indian Oil Corp could create a subsidiary for its retail assets to help unlock value, the head of finance at India’s largest refiner said on Tuesday, a day after the government announced plans to monetise IOC NSE 1.42 %’s pipeline assets.
“Presently it is not on our radar but a possibility of any such thing to unlock the value cannot be ruled out,” Sandeep Kumar Gupta said on an analysts call when asked if IOC plans to hive off its fuel retailing business into a separate company.
