<div>India is set to raise about Rs 9,379 crore ($1.4 billion) from a share sale in state-run Indian Oil Corp, the government said on Monday (24 August), but a slump in the stock market raised concerns about future stock offerings.</div><div> </div><div>The sale of 242.8 million shares came on a day when India's stock markets slipped nearly 6 per cent, their biggest daily falls since January 2009 as steep falls in Chinese equities sparked widespread unrest in global markets.</div><div> </div><div>Disinvestment Secretary Aradhana Johri said markets were getting difficult and the government would have to "look for opportunities" for further asset sales.</div><div> </div><div>New Delhi is seeking to raise as much as $11 billion by selling stakes in state-run companies this fiscal year, crucial to narrowing the fiscal deficit to a planned 3.9 per cent of gross domestic product in 2015/16.<br><br>(Reuters)</div>
_20240527192124_original_image_21.webp)
