Oil India Ltd (OIL) may hit the market with an initial public offering (IPO) on 7 September.
“As per the tentative schedule drawn, the IPO may open for public subscription on 7 September and will close on 11 September,” a petroleum ministry official said.
OIL will offer 26.4 million equity shares to public in the IPO, while the government will simultaneously sell 10% of its stake in the company to state refiners.