Indian Oil Corporation Limited to raise Rs. 22000 crores through rights issue

The Board of Directors of Indian Oil Corporation Limited at its meeting held on 7th July 2023, has approved the raising of capital by way of issue of equity shares on right basis upto an amount not exceeding Rs. 22,000 crore (Rupees Twenty Two Thousand crore only), subject to receipt of necessary statutory approvals as may be required. The details of rights issue viz. the issue price, right entitlement, record date, issue open date, issue closure dates, terms of payment etc., will be announced separately in accordance with the applicable laws, and subject to receipt of necessary approvals as may be required.

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 99.25 as compared to the previous close of Rs. 98.60. The total number of shares traded during the day was 3671137 in over 16681 trades.

The stock hit an intraday high of Rs. 101.20 and intraday low of 98.80. The net turnover during the day was Rs. 366028831.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 IOC OMC FundRaising RightsIssue