IOC rises on planning to raise additional $3 billion via bonds issue

17 Jan 2019

Indian Oil Corporation is currently trading at Rs. 135.80, up by 0.55 points or 0.41% from its previous closing of Rs. 135.25 on the BSE.

The scrip opened at Rs. 135.90 and has touched a high and low of Rs. 136.35 and Rs. 135.30 respectively. So far 21201 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 213.80 on 31-Jan-2018 and a 52 week low of Rs. 105.65 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 136.35 and Rs. 130.10 respectively. The current market cap of the company is Rs. 131352.23 crore.

The promoters holding in the company stood at 54.06%, while Institutions and Non-Institutions held 19.07% and 26.76% respectively.

Indian Oil Corporation (IOC) is looking to raise additional funds worth $3 billion through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value.

The company is already in process to raise $900 million through a bonds issue and is raising an equivalent sum through a syndicated loan to meet its capital requirements.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719