IOC Rights Issue 2024, Share Price, History, Allotment Status and More Details

What Is a Rights Issue?

News: A rights issue is like an exclusive invitation to existing shareholders of a company. It allows them to buy additional shares at a discounted price within a specific period. Unlike an IPO (Initial Public Offering), which is open to the general public, a rights issue is only available to current shareholders. Here’s how it works:

1. Eligibility: Existing shareholders receive the offer in proportion to their current holdings.

2. Choice: Shareholders can decide whether to subscribe to the rights issue partially or fully.

3. Lapse: If a shareholder doesn’t exercise their right to purchase additional shares, the rights lapse.

4. Transfer: Shareholders can also transfer their rights to others through stock exchanges.

Why Consider a Rights Issue?

1. Discounted Price: The rights issue allows shareholders to acquire additional shares at a premium compared to the market price.

2. Company Performance: Before subscribing, it’s essential to assess the company’s performance.

IOC Rights Issue 2024: Key Details

• Company: Indian Oil Corporation (IOC)
• Issue Open Date: February 28, 2024
• Issue Close Date: March 12, 2024
• Record Date: February 22, 2024
• Issue Price (Per Share): ₹25.00
• Issue Size: ₹25.68 crore
• Current Market Price (CMP) of Share: ₹25.68
• CMP of Rights Entitlement: ₹25.68
• Renunciation of Rights Entitlements: March 08, 2024 (1:1 ratio)

Other Rights Issues in 2024

Here are some more companies offering rights issues in 2024:

• Gala Global Products Limited: Issue Price: ₹8.60, Ratio: 1:1
• Jaykay Enterprises Limited: Issue Price: ₹25.00, Ratio: 1:1
• Silgo Retail Limited: Issue Price: ₹25.00, Ratio: 1:1
• Dipna Pharmachem Ltd.: Issue Price: ₹10.00, Ratio: 13:12
• Affordable Robotic & Automation Ltd: Issue Price: ₹450.00, Ratio: 46:439
• Scanpoint Geomatics Limited: Issue Price: ₹5.00, Ratio: 1:1
• Mitsu Chem Plast Ltd: Issue Price: ₹144.00, Ratio: 1:8

About IOC :

Indian Oil Corporation (IOC), commonly known as IndianOil, is one of India’s largest public sector oil and gas companies. Established in 1959, it plays a crucial role in the country’s energy sector. Here are some key points about IOC:

Business Segments:

Refining: IOC operates several refineries across India, producing petroleum products like petrol, diesel, and LPG.

Marketing: It has an extensive network of fuel stations and markets various fuels and lubricants.

Pipelines: IOC manages a vast pipeline network for transporting crude oil and petroleum products.

Petrochemicals: The company also produces petrochemicals used in plastics, synthetic fibers, and other industries.

Financials:

1. IOC’s financial performance is closely monitored by investors and analysts. Factors like crude oil prices, refining margins, and demand affect its profitability.

2. The rights issue in 2024 is an opportunity for existing shareholders to buy additional shares at a discounted price.

Social Responsibility:

1. IOC actively contributes to social causes, including education, healthcare, and environmental conservation.

2. It supports initiatives related to education, skill development, and community welfare.

Challenges:

1. Like any large corporation, IOC faces challenges such as market volatility, regulatory compliance, and technological advancements.

2. Balancing economic growth with environmental sustainability is a constant concern.

Disclaimer: Please note that all content and tools on this website are provided for your convenience and are offered “as is” without warranties. The information provided, including any tool-generated output, is for informational purposes only and should not be considered investment advice or guarantees. Exercise caution, seek professional advice, and make independent judgments before acting on any information found on this site.

FAQs:

When can we expect the official announcement for the Rights Issue date?

As of February 22, 2024, the Indian Oil Corporation (IOC) has not officially declared the Rights Issue date. Investors and stakeholders are advised to stay tuned for any official announcements from IOC regarding the Rights Issue 2024 Record Date.

What is the current stock price of Indian Oil Corporation Ltd?

The current stock price of Indian Oil Corporation Ltd stands at 179.7 INR, having opened at 181.75 INR.

What is the market capitalization of Indian Oil Corporation Ltd?

The market capitalization of Indian Oil Corporation Ltd is valued at 253,557.1 Crore INR.