Indian Oil Corporation raises Rs2,500 crore through NCDs; Stock dips 1%

20 Jun 2022 , 09:47 AM

Indian Oil Corporation Limited has issued 25,000, 7.79% unsecured, listed, rated, taxable, redeemable, nonconvertible debentures (Series – XXIII) of Rs10,00,000 each aggregating to Rs2,500 crore on a private placement basis on June 17, 2022.

As per the filing, the funds raised through this issue will be utilized for, refinancing of existing borrowing and/or funding of capital expenditure of the Company, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the issuer, the company said.

On Monday at around 9:49 AM, Indian Oil Corporation was trading at Rs102.80 per share down by Rs1.5 or 1.44% from its previous closing of Rs104.30 per share on the BSE.