Indian Oil Corporation FPO may hit the streets soon - Indian IPO Blog

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Sunday, December 5, 2010

Indian Oil Corporation FPO may hit the streets soon

Indian Oil Corporation Limited (IOCL), a state-owned oil and gas company, is planning to come up with a Follow-on Public Offer in January 2011. The Government through the FPO plans to divest 10% of its equity in the company

Indian Oil Corporation is the country's largest refiner. IndianOil operates the largest and the widest network of fuel stations in the country. It has also started Auto LPG Dispensing Stations (ALDS). It supplies Indane cooking gas to over 47.5 million households

IndianOil has business interests straddling the entire hydrocarbon value chain – from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas, marketing of natural gas, and petrochemicals

Indian Oil Corporation has engaged Six banks, Merrill Lynch, Citigroup and ICICI Securities, to handle the FPO. Besides, Morgan Stanley, SBI Capital and UBS are other banks hired by the company

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