Oil India Ltd the premier Indian National Oil Company is coming out with an IPO of 26 million shares for diversification of existing business in downstream activities and purchase of capital equipments and contracts for facilities.
The company is engaged in the business of exploration, development and production of natural gas and crude oil, transportation of crude oil and production of LPG.Oil India also provides other E&P related services and it is the second largest oil and gas company in India.
Details of the issue :
Issue Size: 2,64,49,982 Equity Shares of Rs. 10.
Issue Price: Rs 950 to Rs 1050.
Issue Open from September 7,2009 to September 11, 2009.
Crisil has given IPO Grade 4 to Oil India Limited.
In 2008-09, the company reported an EPS of Rs 101, while its book value per share stood at Rs 436.Though the pricing seems to be on the higher side comparing with ONGC, investors can apply for this Ipo having long term view.