Oil India issue price set at Rs1,050: source

Oil India issue price set at Rs1,050: source

Mumbai: Shares in state-run explorer Oil India were priced at Rs1,050, the top end of its IPO range, and will be listed on 1 October, a source familiar with the situation said.

PTI quoted Oil India’s chairman saying the company’s shares will be listed on 30 September. The PTI report said the shares were priced at Rs1,050.

A spokesman for Oil India was not immediately available.

The company’s $570 million IPO was subscribed nearly 31 times, quelling fears investor appetite for new offerings had waned in the wake of a tepid market debut for two recent big listings.

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