Bharat Oman Refineries to raise Rs 1,200 cr via IPO

Bharat Oman Refineries Ltd IPO : Bharat Oman Refineries Ltd  plans to raise Rs 1200 crore via an Initial Public offer in financial year 08 for setting up an refinery at Bina in Madhya Pradesh which will have production capacity of 6 million tonne per year and is estimated to complete its mechanical installation of the refinery by December 2009.

Bharat Oman Refineries Ltd (BORL) is a joint venture between Bharat Petroleum Corporation Ltd(BPCL) and Oman Oil Corp. BPCL and Oman Oil Copr will jointly hold a 52 percent stake and the remaining 48 percent will be alloted to private investors.