Government reduces stake in Oil India Limited
DSIJ Intelligence / 15 Jun 2017
On June 14, 2017, the government raised about Rs 1136 crore from the Oil India Ltd’s buyback offer of 4,49,12000 fully paid up equity share of the company with the face value of Rs 10 each at the price of Rs 340 per equity shares. Government cut off its stake to 62.13 per cent from that of 66.60 per cent.
On June 14, 2017, the government raised about Rs 1136 crore from the Oil India Ltd’s buyback offer of 4,49,12000 fully paid up equity share of the company with the face value of Rs 10 each at the price of Rs 340 per equity shares. Government cut off its stake to 62.13 per cent from that of 66.60 per cent.
The government offered around 33.43 million of the total share in the buyback, while about 984,416 shares were tendered by Robeco Capital Growth Funds.
Oil India Ltd accepted around 1.22 mn shares from ICICI Prudential Life Insurance Co Ltd. About 797,828 shares tendered by LSV Emerging Markets Equity Fund and two funds of Vanguard offer a total 1.13 mn shares.
On June 15, 2017, Oil India Ltd is trading at Rs 296.20, up by 0.59 per cent on BSE at 11:37 hours. It opened at Rs 296.95, while on Wednesday it closed at Rs 294.45.
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