Indian Oil Corporation has informed that the Board of Directors of the Company at its meeting held on August 13, 2015, has approved investment of Rs 1000 crore in the Non-convertible Cumulative Redeemable Preference Shares to be issued by Chennai Petroleum Corporation Limited (subsidiary of IndianOil) on private placement preferential allotment basis.
The above information is a part of company’s filings submitted to BSE.