Indian Oil Corporation informed about the issue of NCDs aggregating to Rs 2995 crore on private placement basis.
In an exchange filing made after market hours yesterday, the company announced that it has issued 29,950 unsecured, rated, taxable, redeemable, non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs. 2,995 crore on private placement basis on 6 March 2020 to meet its capex requirements.
The shares of Indian Oil Corporation ended 2.66% lower at Rs 89.75, yesterday 16 March 2020.
As of 30 September 2019, the Govt of India holds a 51.5% stake in the company while Oil and Natural Gas Corporation holds a 14.2% stake in the company.
Indian Oil Corporation's segments include sale of petroleum products, sale of petrochemicals and other businesses. Its other businesses segment includes sale of gas, explosives and cryogenics, wind mill and solar power generation, and oil and gas exploration activities.
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