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October 8, 2007

Oil India IPO – Now in 1Q 2008

Though in Mar, Oil India (OIL) said that they will come out with an Initial Public Offering (IPO) in Oct however looks like the same is postponed to Jan-Mar next year to raise upto Rs 2,000 crore by off-loading 10 per cent of its stake. The Government has 98.13 per cent stake in the company now.
OIL is engaged in the business of exploration, production and transportation of crude oil and natural gas. It currently produces 25 million barrels of crude oil per annum and 6.6 million cubic metre of gas a day.

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