Business & Investment

IOC Share Price: IOC Raises Debt of Rs 1,290

New Delhi: Indian Oil Corporation Ltd The country’s top oil company (IOC) has raised Rs 1,290.20. debt To refinance existing borrowings and cover project costs. In the submission to the stock exchange on Monday, IOC “We issued 5.60% unsecured, listed, rated, taxable, redeemable and non-convertible bonds, each totaling Rs 1,290.20. Private placement base“.

The IOC said in October last year that it plans to raise a debt of Rs 2,000 on a private placement basis.

“The funds raised through this issue will be used, among other things, to finance the company’s capital expenditures, including refinancing existing borrowings and / or recovering expenses already incurred, and / or for other purposes in normal business processes. “It said on Monday.

IOC stocks were down almost 2% at BSE at Rs 93.80.

The company plans to announce third-quarter earnings on Friday.



IOC Share Price: IOC Raises Debt of Rs 1,290

https://economictimes.indiatimes.com/markets/stocks/news/ioc-raises-rs-1290-crore-in-debt/articleshow/80447999.cms IOC Share Price: IOC Raises Debt of Rs 1,290

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