Issue Highlights
| Edelweiss Symbol | INDOIL | Timing | 09:15 am to 3:30 pm. |
| Floor Price | Rs. 387 | Offer Size | 24,27,95,248 equity shares |
| Lot Size | 1 Equity Share | Retail | 20% of offer size |
| Discount For Retail Investors | 5% on cutoff price | Non Retail | 80% of offer size |
| Face Value | Rs. 10/- | Listing On | NSE and BSE |
About Indian Oil Corporation Ltd.
Indian Oil Corporation (IOCL) is the largest oil marketing company in India with a 49% market share. It also has the largest network of retail outlets across the country (more than 20,000 outlets). It also has the second largest refining capacity in the country at 54.2mtpa. It is in the process of commissioning a 15 mtpa refinery at Paradip which will be the most complex PSU refinery. IOCL also has a large presence in pipelines and chemicals. Among OMCs, IOCL’s refineries are better in terms of complexity and on average have generated higher refining margins. The Paradip refinery, once commissioned, will add to IOCL’s refining margins given its high complexity. Diesel deregulation from Oct 19, 2014 will lead to further drop in interest costs and an increase in retail margins as well. We believe benefits of recent deregulation are more permanent and will in fact progressively show through more significantly going forward. Stable earnings from pipelines cushion it from the volatility of the refining and marketing segments.
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