Indian Oil Corporation (IOC) is planning to raise Rs 3,000 crore through a rupee denominated bond issue in the month of October to meet its general corporate financing needs. The bond issue will be of Rs 1,000 crore with a greenshoe option of another Rs 2,000 crore. The bond issue will be of 10 year tenure.
The company had a borrowing of Rs 81,000 crore at the end of September quarter. The company is aggressively expanding refining and petrochemical capacity and laying infrastructure to meet rising energy demand in the country.
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.