Government of India announces Offer for sale of shares to eligible employees of IndianOil

In accordance with the approval accorded by Cabinet Committee on Economic Affairs on May 13, 2013, Government of India (GOI) has offered 1,21,39,762 Equity Shares of Rs. 10/- each to the eligible employees of Indian Oil Corporation Ltd (IndianOil) at a discounted price of Rs. 367.65 per share (5% discount to the cut off price of Rs. 387/- discovered through the Offer For Sale of equity shares of IndianOil carried out by GOI on August 24, 2015).

In connection with the above, action has been initiated by the Company for sale of equity shares to the eligible employees by the GOI. The offer for sale of share shall remain open from May 02, 2016 to May 10, 2016.

Shares of INDIAN OIL CORPORATION LTD. was last trading in BSE at Rs.426.15 as compared to the previous close of Rs. 432.9. The total number of shares traded during the day was 68075 in over 2587 trades.

The stock hit an intraday high of Rs. 436 and intraday low of 425. The net turnover during the day was Rs. 29296276.

Source : Equity Bulls

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