Wednesday, 31 July 2013

IOC strengthens on raising $500 million through issue of dollar-denominated bonds

Indian Oil Corporation (IOC) is currently trading at Rs. 196.00, up by 0.65 points or 0.33% from its previous closing of Rs. 195.35 on the BSE.

The scrip opened at Rs. 194.00 and has touched a high and low of Rs. 197.40 and Rs. 186.20 respectively. So far 90,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 375.00 on 18-Jan-2013 and a 52 week low of Rs. 194.00 on 30-Jul-2013.

Last one week high and low of the scrip stood at Rs. 227.45 and Rs. 194.00 respectively. The current market cap of the company is Rs. 47272.23 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 6.43% and 14.65% respectively.

State-owned Indian Oil Corporation (IOC) has raised $500 million by selling 10-year dollar-denominated bonds. The senior unsecured bonds were priced at 3.224% points over comparable US Treasuries and the paper carries a coupon of 5.75%.

The company received bids for around $3.5 billion from over 400 investors, comprising 64% from fund managers, 17% from banks, 11% from insurance and sovereign wealth funds and 8% from private banks.

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.

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