Press Information Bureau
Government of India
Ministry of Finance
05-February-2013 18:41 IST
The offer on sale(OFS) transaction in Oil India Ltd. was held on 01.02.2013. A total number of 601,13,157 shares were sold at the cut off price of Rs. 520 against the Floor Price of Rs. 510 per share fixed by the EGOM held on 30.01.2013. The realization has been at an average price of Rs. 523.15 per share. The issue has been oversubscribed 2.57 times and the overall response at NSE and BSE and allocation thereon are as under.
| | | | |
OIL INDIA LTD OFS SUMMARY AT BSE+NSE LTD |
Exchange | No of Shares | % Subscription | Allocated Qty | Allocation % |
BSE | 93,909,287 | 60.92% | 49,341,403 | 82.08% |
NSE | 60,233,170 | 39.08% | 10,771,754 | 17.92% |
Total | 154,142,457 | 100.00% | 60,113,157 | 100.00% |
The category wise investors’ participation in the OFS at BSE & NSE and allocation is as under.
TOTAL BSE + NSE BID QTY AFTER ALLOCATION |
Category | Bid Count | Bid Qty | Bid Amt (Rs Crs) | Amt in % |
Banks | 58 | 2,112,133 | 110.00 | 3.50% |
Client | 1377 | 4,352,859 | 226.70 | 7.21% |
FII | 87 | 36,223,267 | 1898.24 | 60.36% |
Insurance* | 13 | 1,314,488 | 68.72 | 2.19% |
Mutual funds | 46 | 11,601,614 | 606.53 | 19.29% |
Other Institutions | 33 | 203,881 | 10.61 | 0.34% |
Proprietory | 343 | 4,304,915 | 224.17 | 7.13% |
Total | 1957 | 60,113,157 | 3144.97 | 100.00% |
The net proceeds to the Government of India , of the OFS are Rs.3141, 39, 66,246.00 (Rs.3141.39 crore).
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DSM/RS/Ka
Disinvestment via Offer for Sale completed; government equities sold and net proceeds realized through exchange allocations. Disinvestment of ten percent of paid up equity in Oil India Limited was executed through an Offer for Sale (OFS) on 1 February 2013, selling 60,113,157 shares at a cut off price above the floor price; the issue was oversubscribed about 2.57 times and generated net proceeds to the Government of Rs. 3141.39 crore, with allocations and category wise investor participation recorded across BSE and NSE.
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