State-run Oil India (OIL) is seeking shareholders’ approval to raise Rs 7,000 crore through bonds. In this regard, the company has proposed a special resolution at its annual general meeting on September 23, 2017.
The company intends to raise the amount through issue of redeemable non-convertible debentures/bonds on private placement basis from domestic as well as international markets in one or more tranches.
The proposal to confirm payment of interim dividend and to declare final dividend for 2016-17 on equity shares of the company is also listed on the agenda of the meeting.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
