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Incorporated in 1964, Indian Oil Corporation Limited is the largest downstream oil company in India. The company was formed through the merger of India Refineries Ltd and Indian Oil Company Ltd, now one of the largest commercial enterprises in India. The Company plays a major role in India’s Oil Security and public distribution. The company has operations in three primary segments – refining, marketing and pipelines. The Company also has Research and Development Center at Faridabad. In recent year, the company has diversified its operations into related business areas such as petrochemicals, gas and renewable energy. The Government of India is the largest shareholder in the Company.
Dec 13, 2018: Indian Oil Corporation Ltd (BSE:530965 | NSE:IOC) board has approved a proposal for buyback of up to 29.76 Cr shares at Rs 149 per share, aggregating Rs 4435 Cr (Buyback Offer Size) which is 3.06% of total paid-up equity share capital.
Below is the complete details about Indian Oil Corporation Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 4435 Cr |
| Buyback Number of Shares: | 29.76 Cr |
| Buyback Price: | Rs 149 |
| Buyback Offer Size (In %): | 3.06% |
| Total Share Capital: | Rs 133,246.03 Cr |
| Face Value: | 10 Per Equity Share |
Can I Invest today to participate in Indian Oil Corporation Ltd buyback offer? No
In this section we have covered all important dates related to Indian Oil Corporation Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 13th Dec 2018 |
| Buyback Approval date | 13th Dec 2018 |
| Public Announcement of Buyback | 17th Dec 2018 |
| Record Date | 25th Dec 2018 |
| Buyback opens on/Buyback Opening Date | 22nd Jan 2019 |
| Buyback closes on/Buyback Closing Date | 4th Feb 2019 |
| Cut-off date to receive completed tender forms by Registrar | 6th Feb 2019 |
| Cut-off date for verification by the Registrar | 8th Feb 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
11th Feb 2019 |
| Last date of settlement of bids on the stock exchange | 12th Feb 2019 |
| Last date to return unaccepted shares by Registrar | 12th Feb 2019 |
| Last date of extinguishment of Equity Shares | 12th Feb 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Indian Oil Corporation Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 56.75% |
| Non-Promoter-Institutions | 17.14% |
| Non-Promoter-Non-Institutions | 26.11% |
Indian Oil Corporation Ltd Public Announcement >>Document
Indian Oil Corporation Ltd Draft Letter of Offer >>Document
Indian Oil Corporation Ltd Letter of Offer >>Document
Indian Oil Corporation Ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 111 Equity Share out of every 297 fully paid-up Equity Share held on the Record Date. | 37.38 |
| General Category | 24 Equity Share out of every 910 fully paid-up Equity Share held on the Record Date. | 2.64% |
For Indian Oil Corporation Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 218.88%, No. of Equity Shares reserved in Buyback was 253003355 where valid bid received for retail category was 553762101 which is 218.88% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 92.31%, No. of Equity Shares reserved in Buyback was 44647651 where valid bid received for retail category was 41215921 which is 92.31%. Final Acceptance Ratio for Retail Investors was 100%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 935.70 (-3.18%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 176.75 (-1.81%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 295.90 (-1.10%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 459.70 (-0.27%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Indian Oil Corporation Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Indian Oil Corporation Ltd? How can I apply in Indian Oil Corporation Ltd Buyback offer?Last Updated on 2019-02-20T11:14:59+00:00
i.e. Rs. 6.75 per equity share of face value of Rs.10/- each for the financial year 2018-19. The record date for Dividend is 25th Dec 2018. Looks like Good option to buy for short team. Buyback + Interim Dividend = 2 benefit