Home » Govt receives strong response for OIL share offer

Govt receives strong response for OIL share offer

Govt receives strong response for OIL share offer

Data from the National Stock Exchange (NSE) shows that the government received strong response for its disinvestment in Oil India (OIL) through offer for sale (OFS).

According to the data, the government received bids for more than twice the offer size, at an average price of Rs 517.99 a share.

The government aimed to raise around Rs 3,100 crore by selling 60.1 million shares of the firm at a floor price of Rs 510 each through stock exchanges. However, it received bids worth nearly Rs 8,000 crore for 154 million shares, about 2.5 times the shares on offer.

Leave a Reply