State-owned Indian Oil Corporation (IOC) has garnered Rs 1,700 crore through a domestic bond issue at a new benchmark low interest rate of 8.14 percent. The company has issued the same with an original size of Rs 500 crore, the issue was over-subscribed by over six times with overall subscription aggregating to over Rs 3,000 crore.
The ‘AAA’ rated bonds have a maturity of 5 years with put and call option at the end of the 18 months and 36 months. The company’s issue of Secured Redeemable Non-Convertible Bonds has received an overwhelming response from all segments of investors.
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.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
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