Oil India Limited IPO on 7th Sep 09

by khalid on 09/08/2009 · 0 comments

Oil India Limited

The success of the Rs 6,000-crore NHPC -IPO, which opened on Friday 7th Aug 09 and was oversubsribed within an hour, seems to have encouraged state-run explorer Oil India Ltd (OIL). The company will now hit the market with an IPO on September 7.

The offer will be open from September 7 to 11 and the proceeds would be used to finance the company\’s capex requirement of Rs 2,300 crore for 2009-10 and Rs 2,400 crore for 2010-11. OIL has already started discussions with bankers, including HSBC Securities and Capital Markets, JM Financial Ltd, Citigroup Global Market India and Morgan Stanley India.

The price band for the IPO is likely to be fixed on August 25. OIL, which produces 3.5 million tonne oil annually, will offer 2.64 crore equity shares or 11% to the public while 10% will be simultaneously sold to state refiners at the IPO price, reducing state holding from 98.13% to 78.5%. Indian Oil will get 4.45% stake in the expanded equity base while HPCL and BPCL will get 2.23% each.

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/-
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing: BSE, NSE

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: