OIL will launch its IPO between Rs.950 - 1050.

Oil India Limited (OIL) will launch its IPO of 26,449,982 equity shares at Rs 950 and Rs 1,050 per equity share from September 7 and ending on September 10. The issue comprises a net issue of 10% equity shares to the public with 1% equity, reserved for employees of OIL.

OIL has 11 small and medium discoveries to its credit from 2007-08 through June 2009 with an estimated proved plus probable reserves size of less than 30 million barrels of oil and oil equivalent gas. It also has two major discoveries with an estimated proved plus probable reserves size of over 30 million barrels of oil and oil equivalent gas.