Oil India to issue bonds, debentures to raise upto Rs 7,000 crore

Oil India has received shareholders' approval to raise up to Rs 7,000 crore through issuance of bonds and debentures on private placement basis, the state-owned firm informed stock exchanges Sunday.

Company's shareholders have also approved the appointment of four independent directors.

"...all the items of business enlisted in the notice of 59th AGM held on September 22, 2018, were approved by the shareholders with requisite majority," said the filing of Oil India.

There were nine ordinary resolutions and one special resolution was put before the AGM.

Shareholders have approved the special resolution "for raising funds up to Rs 7,000 crore through issuance of bonds/debentures on private placement basis", the company said.

The company has received approval to appoint Asha Kaul, Priyank Sharma, S Manoharan, and Amina R Khan.

Payment of interim dividend and declaration of final dividend for the financial year 2017-18 on the equity shares of the company too has been approved.