Oil India Limited IPO approved by OIL shareholders

Date October 31, 2007

The shareholders of Oil India Limited (OIL) have approved raising funds through an IPO in the OIL AGM today. OIL India Limited IPO is likely to hit the Indian primary markets in the first quarter of next calender year. Currently almost the entire stake (baring a small part which is with employees of OIL) of Oil India Limited is with the Indian Government. The government of India will dilute approximately 10% of its stake through the OIL IPO.

Category Posted in IPO India