Indian Oil Corp (IOC) has announced plans to raise $2.66 billion through a rights issue of shares, following the Indian government’s funding drive for energy transition projects. The money will be used to fund undisclosed projects in alignment with the company’s net zero-emission objectives. The board has not yet approved when or at what price the shares will be issued.
Indian Oil Corp to raise $2.7 billion through share sale
Indian Oil Corp (IOC) has announced plans to raise $2.66 billion through a rights issue of shares, following the Indian government’s funding drive for energy transition projects. The money will be used to fund undisclosed projects in alignment with the company’s net zero-emission objectives. The board has not yet approved when or at what price the shares will be issued.