OIL India IPO Analysis, Review
Oil India IPO Review and Analysis
What is OIL India Limited
Oil India Limited (OIL) is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery Limited.
Most of Oil India Limited’s exploration and production activities are in the North East and around 10% in Rajasthan. Additionally, OIL’s exploration activities are spread over onshore areas of Ganga Valley and Mahanadi. OIL also has participating interest in NELP exploration blocks in Mahanadi Offshore, Mumbai Deepwater, Krishna Godavari Deepwater, etc. as well as various overseas projects in Libya, Gabon, Iran, Nigeria and Sudan.
OIL India Limited (OIL) IPO Analysis and Detailed Review
11% of fresh equity will be sold in Oil India Limited IPO and the government will divest 10% of its stake. Post-IPO and disinvestment, the Government’s stake in the company will decrease from 98.13 per cent to 78.5 per cent.
Usage of Proceeds of OIL India Limited IPO
The funds raised in the IPO of Oil India Limited will be used to fund capex requirement for 2009-10 and 2010-11 when it had planned Rs 2,300 crore and Rs 2,400 crore expenditures respectively.
OIL IPO Price Range/Price Band
OIL, sources have said, believes its earnings per share (EPS) and book value are better than ONGC and so it is looking at pricing the issue in the range Rs 1,000-1,100.
OIL IPO Listing Date
OIL IPO issue open date is September 7 and the issue will close on September 11. The issue will most likely list on the market on September 29
IPO Analysis
Do not expect quick listing gains, but treat it as a fixed deposit. Should give good returns in the long run
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August 20th, 2009 at 11:31 am
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