OIL received bids for 6.8 crore shares with 100% margin - bids that can be modified or cancelled - and 7.35 crore shares with 0% margin - bids that can be revised only upwards. The settlement is expected in two days.
The weighted average price of OIL shares is Rs.517.80 apiece while the closing price on NSE was Rs.525.50.
The company fixed the floor price at Rs.510 a share.
To ensure transparency in the offer for sale process, market regulator Security Exchange Board of India (SEBI) has ordered the indicative price or weighted average price should be disclosed throughout the trading session.