The base price for state-run Oil India Ltd's share sale, to take place on Friday, has been set at a 5.6 percent discount to its share price, the company said, in a deal that will raise about USD 575 million.
The government will sell a 10 percent stake in Oil India through the auction, as part of its drive to raise Rs 30,000 core by selling shares in some state enterprises in the 2012-13 fiscal year to March.
The floor price for the Oil India auction will be Rs 510 a share, as compared to its Thursday closing price of Rs 540. At the floor price, the government could raise about USD 575 million through the stake sale.
Oil India stock price
On November 30, 2015, Oil India closed at Rs 378.70, up Rs 0.15, or 0.04 percent. The 52-week high of the share was Rs 596.45 and the 52-week low was Rs 342.00.
The company's trailing 12-month (TTM) EPS was at Rs 41.59 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 9.11. The latest book value of the company is Rs 357.89 per share. At current value, the price-to-book value of the company is 1.06.
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