The government has approved 10 per cent stake sale in Indian Oil Corporation to state run Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) at a discount of 10 per cent. It will fetch about 5,300 crore rupees to the exchequer.Petroleum and Natural Gas Minister Veerappa Moily confirmed this while talking to reporters in New Delhi today after an EGoM meeting. Petroleum and Natural Gas Secretary Vivek Rae told reporters that ONGC and OIL will now work out the deal and the stake sale will happen very shortly. He said it will be an off-market deal.