Oil India Limited IPO

by khalid on 20/08/2009 · 1 comment

Oil India Limited

Oil India Private Limited was incorporated in 1959 to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian North East and it became a joint venture company between the Indian Government and Burmah Oil Company Limited, UK in 1961.

OIL ( Oil India Limited ) became a wholly-owned Government of India enterprise in 1981. Today, OIL is a premier Indian National Oil Company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG.

As Government is divesting its stake in many companies so OIL is planning to raise money for its diferent objectives to fulfill like exploration and appraisal activities, development activities in producing fields, purchase of Cap. equipments & contracts for Facilities and diversification of Existing Business in downstream Act .

Important Dates and Facts :
Public Issue Open: September 7,2009 to September 11, 2009
Public Issue Type: 100% Book Built Issue (Initial Public Offer IPO)
Public Issue Size: 2,64,49,982 Equity Shares of Rs. 10/-
Face Value: Rs. 10/-
Listing: BSE, NSE
Maximum Subscription Amount for Retail Investor: Rs 100,000/-

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