OIL India IPO Review & Analysis
IPO Opens : 7th September
IPO Closes : 11th September
Price Band : 1200 - 1450 (Will be sure by 25th Aug)
Now another IPO is in the fray and this time it’s the countries second largest and the state run energy explorer OIL INDIA. NHPC was the first state run company to go into an IPO after nearly a year and a half when REC went on to an IPO back in early 2008. And now Oil India looks set for the Initial public Offering on September 7.
About Company and Govt Disinvestment :
Oil India Ltd. produces 3.5 million tonnes of oil annually, will offer 2.64 crore equity shares to the public through the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.
An 11 per cent fresh equity will be sold in the IPO while the government would divest 10 per cent of its stake at the IPO price. Post-IPO and disinvestment, the Government’s stake in the company will decrease from 98.13 per cent to 78.5 per cent.
The company may not be a good bet for short term but is surely a long term bet.
Our verdict : Short term investors be away.
Grey Market Premium : (Update Soon!)
Brokers Verdict: (Update Soon!)
Date of Listing : (Update Soon!)
Source: http://www.squamble.com
