Analysis and Insights into the world of IPOs and investing in India

Tuesday, November 22, 2011

Oil India Stake sale approved

The oil ministry has approved sale of a 10% stake in state-run Oil India Limited. The Government of India currently owns 78.4% of Oil India.

Oil India Limited (OIL) had come up with an IPO in September 2009 with the issue price at Rs.1050/- per equity share. The issue price was fixed at the higher end of the price band for the IPO which was Rs.950/- to Rs.1050/- per equity share under the IPO

Oil India Ltd. IPO had received very good response especially from the QIB Category, with the IPO being oversubscribed by 30.82 times on an overall basis and 53.83 times in the QIB Category. Retail Category was subscribed by only 1.76 times
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