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The Fortune "Global 500" report for 2022 lists Indian Oil as the highest-ranked energy PSU in India. With a Maharatna CPSE status and a market valuation of 1,07,533.23 Cr, the firm operates in the energy industry. The company has stated that it will raise 2,500 crore through a private placement of 25,000, 7.44% unsecured, listed, taxable, redeemable non-convertible debentures (NCDs) of 10 lakh each.

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%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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