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March 29, 2008

Bharat Oman Refineries Ltd – IPO Plans

Here are some daring steps. Despite dampened mood in the stock market, India's Bharat Oman Refineries Ltd, an equal joint venture between state-run Bharat Petroleum Corp (BPCL) and Oman Oil Co, filed papers on Friday for an initial public offer. The company is coming out with IPO plans despite concerns about investor appetite for offerings. The sources had said the company planned to sell about 48 percent through the public offer and a pre-IPO placement to raise up to 25 billion rupees ($625 million).

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