The IPO will be open until September 11, 2009 which is 100% book building issue. 2,64,49,982 Equity Shares of Rs. 10/-are on offer. It has a face value of Rs 10. As a retail investor one can maximum apply for Rs 100,000/- subscription amount. The aim of the issue is exploration and appraisal activities. It will be also undertaking development activity in production field. It is also going to undertake purchase of equipment.
one must subscribe for this issue as government IPOs always provided good returns in the past. Moreover Oil India IPO has been assigned IPO Grade 4 by CRISIL. CRISIL assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. IPO Grade 4 from CRISIL indicates that the company has above average fundamentals.
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