| However, IOC plans to retain only Rs 1,225 crore out of this. IOC's book-building issue of secured redeemable non-convertible bonds was open for subscription on private placement basis during September 6 to September 9, 2005. |
| Rated 'LAAA' by Icra, the issue sought to raise Rs 1,000 crore with a greenshoe option, but garnered commitments of over Rs 2,500 crore from investors. |
| These bonds were launched in two categories - one with a maturity of five years with a 'put & call' option at the end of each year with floating interest rate to be reset semi-annually, and the other with a 10-year maturity with a fixed coupon rate. |
| The interest rate fixed by the book building process was 10 basis points over one-year gilt yield for the first option in which the company has retained Rs 725 crore, and 7.40 per cent annually under the second option wherein Rs 500 crore has been retained by the company on a pro-rata basis. |
| "The success of this issue has once again reaffirmed the strong confidence investors have in IOC, which is currently India's highest ranked company in the Fortune Global 500 listing," a company release said. |
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