The company has said in a stock exchange filing that “In accordance with the Regulation 30 read with Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, it is hereby informed that the Company has issued 25000, 7.44% Unsecured, Listed, Rated, Taxable, Redeemable, Nonconvertible Debentures (Series - XXV) of Rs.10,00,000 each aggregating to Rs. 2500 crore on Private Placement basis on 25 November 2022. The funds raised through this issue will be utilized for, inter alia, 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 Company."
With a petrochemical production capacity of around 3200 KTA and a marketing network backed by 70.05 MMTPA of refining capacity and more than 15,000 KM of cross-country pipelines, IOCL is one of the top players in the petrochemical industry in India. The Fortune 500 list ranks IOCL at position 142, giving it the highest energy PSU ranking in India with over 34,000 fuel stations nationwide.
The shares of Indian Oil Corporation Ltd (IOCL) closed today on the NSE at ₹75.95 apiece, up by 3.54% from the previous close of ₹73.35. In trade today the stock recorded a total volume of 40,695,313 shares compared to the 20-Day average volume of 10,516,950 shares. In the last 1 year, the stock has fallen 4.10% and on a YTD basis, the stock has gained 0.86% so far in 2022. The stock had touched a 52-week-high of ₹90.70 on (22-April-2022) and a 52-week-low of ₹65.20 on (29-September-2022), indicating that at the current market price the stock is trading 16.26% below the 1-year high and 16.48% above the 1-year low. For the quarter ended September or Q2FY23, IOCL reported a promoter shareholding of 51.50%, FIIs stake of 7.22%, DIIs stake of 11.24%, Govt stake of 19.60% and a public stake of 10.42%.
