Oil India IPO price fixed at Rs 1,050

The IPO of 11 per cent fresh equity shares would fetch Rs 4,982 crore at the higher end of the Rs 950-1,050 price band. The government would sell its 10 per cent stake to state refiners at the issue price for Rs 2,205 crore. “The company would be listed on the bourses on September 30,” Oil India Chairman N M Borah told reporters.

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