Wednesday, March 05, 2025 | 10:59 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Oil India to hit capital market in November

Image

Press Trust of India New Delhi

Public sector exploration firm Oil India is likely to hit the capital market, with an initial public offering of 2.64 crore shares, in November.     

Company sources said, the company would file a revised DRHP next month after updating information up to June 30, 2008.     

The company has complied with Sebi requirement of halving half of the board strength as independent directors.     

"We are in touch with our bankers for exact timing of the IPO. Hopefully market conditions will improve by November and the IPO is likely to open in the first half of November," company sources said.     

The pre IPO placement to IOC, BPCL and HPCL will also happen around the same time.     

 

Oil India had earlier filed its draft prospectus with market regulator Sebi for an initial public offering of up to 2.64 crore equity shares.     

Due to turbulent market conditions, several IPOs were shelved earlier, including those by realty giant EmaarMGF, Wockhardt Hospital and SVEC Constructions.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 19 2008 | 11:50 AM IST

Explore News