IOC raises Rs1500 crore through issue of unsecured debentures (series - XXI) on private placement basis

18 Feb 2022 , 02:56 PM

Indian Oil Corporation Limited has raised Rs1500 crore funds through issuance of 15000, 6.14% unsecured, listed, rated, taxable, redeemable, Nonconvertible Debentures (NCDs) (Series – XXI) of Rs10 lakh each on a private placement basis on February 18, 2022.

The funds raised through this issue will be utilized for, inter alia, refinancing of existing borrowing and 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.

At around 2.58 PM, Indian Oil Corporation Ltd was trading at Rs120.90 per share down by Rs0.45 or 0.37% from its previous closing of Rs121.35 per share on the BSE.

The scrip opened at Rs121.70 and has touched a high and low of Rs122.30 and Rs120.55 respectively.