<div>The base price for state-run Oil India Ltd's share sale, to take place on 1 February' 2013, has been set at a 5.6 per cent discount to its share price, the company said, in a deal that will raise about $575 million.</div><div> </div><div>The government will sell a 10 per cent stake in Oil India through the auction, as part of its drive to raise 300 billion rupees by selling shares in some state enterprises in the 2012/13 fiscal year to March.</div><div> </div><div>The floor price for the Oil India auction will be 510 rupees a share, as compared to its Thursday closing price of Rs 540. At the floor price, the government could raise about $575 million through the stake sale.<br /><br />(Reuters)</div>
