The Board of Directors of Indian Oil Corporation Limited at its meeting held on 7th July 2023, has approved the raising of capital by way of issue of equity shares on right basis upto an amount not exceeding Rs. 22,000 crore, subject to receipt of necessary statutory approvals as may be required.

The details of rights issue viz. the issue price, right entitlement, record date, issue open date, issue closure dates, terms of payment etc., will be announced separately in accordance with the applicable laws, and subject to receipt of necessary approvals as may be required.