IOC-IBP share-swap at 125:100

The board of Indian Oil Corporation on Wednesday approved share swap ratio for merging its subsidiary IBP Co Ltd with itself.

The board of directors have recommended a swap ratio of 125:100, i.e 125 equity shares of IOC would be offered for every 100 equity shares of IBP, a company official said.

"This would, however, be subject to the approval of government," he said.