Indian Oil Corporation today announced that the company has raised Rs 2,500 crore via NCDs (Non-convertible Debentures). In an exchange filing, Indian Oil said that it has issued 250000, 7.36% Unsecured, Listed, Rated, Taxable, Redeemable, Non- convertible Debentures (Series -XXVI) of Rs.1,00,000 each aggregating to Rs. 2500 crore on Private Placement basis.
The company said that the funds will be utilised for refinancing of existing borrowings or funding the capex of the company. “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,” said Indian Oil in an exchange filing.
Indian Oil shares today ended flat at Rs 170.74 on the NSE.
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Indian Oil