The issue comprises of a net issue to the public of up to 24,045,438 equity shares and a reservation of up to 2,404,544 equity shares for employees. The issue shall constitute 11% of the fully diluted post-issue paid-up capital of the company.
The objects of the issue are to fund requirements for fiscal 2009 and fiscal 2010 towards exploration and appraisal activities; development activities in producing fields; purchase of capital equipments and contracts for facilities and diversification of existing business in downstream activities.
The equity shares offered are proposed to be listed on the NSE and BSE.
The book running lead managers to the issue are JM Financial Consultants & Morgan Stanley, Citigroup Global and HSBC Securities and Capital Markets.
The company has planned to invest Rs 15,000 crore in the next five years in its core competence of oil and gas exploration and production and another Rs 2,000 crore in its downstream forays into refining. The company is scheduled to hold discussions with HPCL on possible participation of OIL in their Bhatinda or
The company posted a Pre-Tax Profit of Rs. 2,482 crore nd Post Tax Profit of Rs. 1,640 crore for the Financial Year ending 31.03.2007, giving an EPS of Rs 77..