The initial public offer (IPO) of the
state-run Oil India got subscribed 1.44 times the shares on
offer on the second day of offer today, with most of the bids
coming in from qualified institutional buyers (QIBs).
State energy explorer Oil India`s IPO worth up to USD570 million is fairly priced and should leave money on the table for subscribers, may be wary after the last two big Indian listings lagged expectations.
Explorer Oil India Ltd plans to raise as much as 27.8 billion rupees (USD 570 million) through an IPO next month, a senior official said, making it the second state-run firm to offer new shares to the public this year.