Indian Oil board to consider issuing bonds and debentures for raising up to ₹20,000 crore
Oct 22, 2020, 15:20 IST
The Board of India Oil Corporation (IOC) in its upcoming meeting on October 30 will consider the proposal to borrow up to Rs 20,000 crore during the ongoing financial year through private placement of bonds and debentures.
The borrowing would be carried out in one or more tranches, the company said in a regulatory filing on Thursday.
"The Board at its aforesaid meeting would consider the proposal for delegation of authority for borrowings including borrowings upto Rs 20,000 crore during a financial year through private placement of bonds/debentures in one or more tranches, from time to time, within the overall borrowing limit of Rs 1,65,000 crore approved by shareholders at the last Annual General Meeting," it said.
Shares of the oil marketing major traded on a positive noted on Thursday. Around 12.45 p.m. they were at Rs 76.70, higher by 0.85 per cent from their close.
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The borrowing would be carried out in one or more tranches, the company said in a regulatory filing on Thursday.
"The Board at its aforesaid meeting would consider the proposal for delegation of authority for borrowings including borrowings upto Rs 20,000 crore during a financial year through private placement of bonds/debentures in one or more tranches, from time to time, within the overall borrowing limit of Rs 1,65,000 crore approved by shareholders at the last Annual General Meeting," it said.
Shares of the oil marketing major traded on a positive noted on Thursday. Around 12.45 p.m. they were at Rs 76.70, higher by 0.85 per cent from their close.
SEE ALSO: Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club
Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too
Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment
Sadhguru’s advice: Government should give tax relief for sustainable businesses