anant1a
New member
Oil India announces IPO
Public sector undertaking Oil India Limited has announced an initial public offering
OIL has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to 26,449,982 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process.
The issue comprises a net issue to the public of up to 24,045,438 equity shares and a reservation of up to 2,404,544 equity shares for subscription by eligible employees. The issue shall constitute 11 per cent of the fully diluted post-issue paid-up capital of the company.
The company has been present in the Indian oil and gas exploration and production industry for nearly five decades. OIL is primarily engaged in the exploration, development, production and transportation of crude oil and natural gas onshore in India. It also processes the produced natural gas to extract liquefied petroleum gas.
Oil India Limited is present internationally through the exploration of crude oil and natural gas in Gabon, Iran, Libya and Nigeria and was recently awarded exploration blocks in Yemen. The company has oil reserves in Assam, Arunachal Pradesh and in Rajasthan.
Public sector undertaking Oil India Limited has announced an initial public offering
OIL has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to 26,449,982 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process.
The issue comprises a net issue to the public of up to 24,045,438 equity shares and a reservation of up to 2,404,544 equity shares for subscription by eligible employees. The issue shall constitute 11 per cent of the fully diluted post-issue paid-up capital of the company.
The company has been present in the Indian oil and gas exploration and production industry for nearly five decades. OIL is primarily engaged in the exploration, development, production and transportation of crude oil and natural gas onshore in India. It also processes the produced natural gas to extract liquefied petroleum gas.
Oil India Limited is present internationally through the exploration of crude oil and natural gas in Gabon, Iran, Libya and Nigeria and was recently awarded exploration blocks in Yemen. The company has oil reserves in Assam, Arunachal Pradesh and in Rajasthan.