Indian Oil share sale unlikely in FY2011: Report

State-run Indian Oil Corp's share sale is likely to be delayed to the next fiscal year starting in April due to a surge in the price of crude oil to the highest level in two years, the Mint reported on Monday.  

Indian Oil's chairman had said earlier this month that the company was aiming to raise $4.4 billion through a follow-on share sale in January.  

Citing an unnamed official at the disinvestment ministry, the Mint newspaper said the cabinet approval for the proposed offering had not been sought yet and the issue was likely to be deferred.