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 base price for state-run Oil India Ltd's
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 December 19, 2014, Oil India closed at Rs 562.75, up Rs 1.15, or 0.20 percent. The 52-week high of the share was Rs 668.80 and the 52-week low was Rs 439.00.
The company's trailing 12-month (TTM) EPS was at Rs 48.72 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 11.55. The latest book value of the company is Rs 344.48 per share. At current value, the price-to-book value of the company is 1.63.
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