New Delhi: Oil India Ltd (OIL) may hit the market with an initial public offering (IPO) on 7 September.
“As per the tentative schedule drawn, the IPO may open for public subscription on 7 September and will close on 11 September,” a petroleum ministry official said.
OIL will offer 26.4 million equity shares to public in the IPO, while the government will simultaneously sell 10% of its stake in the company to state refiners.
NHPC Ltd also plans to start its initial share sale in the first week of August, chairman S.K. Garg said in New Delhi on Thursday.