Oil India plans Rs 1,527.01 crore buyback

21 Mar 2017 Evaluate

Oil India has received its board’s approval to buyback 5.60% of its paid up share capital for a consideration of Rs 1527.01 crore. The company’s board has approved the buy back at Rs 340 a share. The board aims to buy back up to 4.49 crore shares of the company. As the promoter, the government currently holds 53.61 crore shares totalling 66.89 per cent of Oil India.

The Centre hopes to raise Rs 45,000 crore from disinvestment of public sector units this fiscal. Till now, it has raised close to Rs 40,000 crore through measures including buybacks, stake sales as well as exchange traded funds.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Oil India Share Price

600.10 0.70 (0.12%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
ONGC 267.85
Oil India 600.10
Jindal Drilling&Inds 613.25
Hind Oil Exploration 178.85
Deep Industries 308.45
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