Oil India IPO OIL IPO: Review Analysis & Details

So finally, the government has given the nod for the OIL India IPO. We have been tracking this issue since August 2008, when there were strong news that OIL India IPO may hit the markets. Sooner or later, it has arrived. The news is that it may open on September 7, 2009, so investors, keep your money ready by that time.
In this article, we will look at the review, analysis and fine details of the Oil India IPO and try to do the Review and analysis of Oil India IPO.
Some basic details first, as per DRHP filed by the company on December 14, 2007:
What is the issue size of the Oil India IPO?
The issue size is not known currently. But it is learnt that the public issue will be for selling around 26,449,982 (26 million) equity shares

What is the face value or nominal value of Oil india IPO?
The face value is the standard Rs 10 each.

How is the share distribution done?
Public sale portion is of up to 24,045,438 equity shares & there are some 2,404,544 equity shares reserved for employees.

The issue will be around 11% of the fully diluted post-issue capital of the company.

How will the capital raised by OIL India IPO be used?
The use of capital will be as follows:
1. exploration and appraisal activities;
2. development activities in producing fields
3. purchase of capital equipments and contracts for facilities
4. diversification of existing business in downstream activities

What is the price band of the Oil India IPO
The price band for shares of Oil India IPO is not yet decided.

What is the trading symbol & exchange for the Oil India IPO
No info is available about the trading symbol, but the listing will be on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)

What are the IPO dates for Oil India IPO
The IPO for OIL India is expected to come out on September 7th, 2009.

Who are the underwriters of the Oil India IPO?
JM Financial Consultants, Morgan Stanley, Citigroup and HSBC Securities are the book running lead managers to the issue. Karvy is the registrar.

What are the analysts recommendations for this IPO?
The demand for Oil & Enrgy is going to increase leaps and bounds. With the scarcity of Alternative Energy sources being identified and implemented in countries like India, the Oil companies are expected to be benefitting if they can generate good business. Moreover, the government has recently given open freedom to companies to decide the prices. Hence, you can expect some better business prospects for OIL India