Indian Oil Corporation Ltd Buyback Dec 2018

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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.

What is the Indian Oil Corporation Ltd share buyback offer?

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.

What is Indian Oil Corporation Ltd Buyback details?

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

What are Indian Oil Corporation Ltd Buyback Important Dates?

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.

    Indian Oil Corporation Ltd buyback offer important dates
    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

Indian Oil Corporation Ltd Share Holding Pattern as of June 2018

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

Indian Oil Corporation Ltd Ratio of Buyback

    For Buy back shares holders are divided in 2 categories:

    • Reserved category for Small Shareholders ("Reserved Category") - Who holds Max Rs 2 Lakhs worth of shares @Rs 135.05 per equity share - in such case Max 1480 Equity Shares as of Record Date 25th Dec 2018.
    • General category for all Shareholders other than Small Shareholders ("General Category")

    Indian Oil Corporation Ltd Ratio of Buy Back

    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%

Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.

Post buyback comments Indian Oil Corporation Ltd

    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%.

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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?

Company Contact Information

Indian Oil Corporation Ltd
Indian Oil Bhavan,
G-9, Ali Yavar Jung Marg,,Bandra (East),
Mumbai- Maharashtra -400051
Website: http://www.iocl.com

Registrar Contact Information

Karvy Computershare Private Ltd.
Karvy Selenium Tower B,
Plot no. 31-32, Gachibowli
Hyderabad - 500032
Telangana
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Last Updated on 2019-02-20T11:14:59+00:00


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User Comments

avatar
1. CA Sachin jain  12/13/2018 10:54:17 PM Reply
IOC also have declared an Interim Dividend of 67.5%
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
avatar
2.1. Expert Comment  12/21/2018 9:59:23 PM
2,00,000 143 = 1395 so that dividends can be bought 6.75 x 1395 = 9400 and buyback is the other benefit.

IOC buyback ratio will be 40% and maximum can go up to 70%

Buyback Price 149.00

Dividend @ 6.75 Per Share

Note that shares purchased till 20.12.2018 will be calculated for dividend and buyback only.






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