OIL seeks shareholders’ approval to raise Rs 7K cr via bonds

Source: The Hitavada      Date: 27 Aug 2017 09:33:38


New Delhi,

Aug 26,

(PTI),

STATE-run Oil India Ltd (OIL) will seek shareholders’ approval to raise Rs 7,000 crore through bonds. The company has proposed a special resolution at its AGM on September 23, 2017, for raising up to Rs 7,000 crore, OIL said in a filing to BSE.

OIL intends to raise the amount through issue of redeemable non-convertible debentures/bonds on private placement basis from domestic as well as international markets in one or more tranches.