OIL India IPO has opened for public offering today. Oil India Limited IPO has decided the price band of Rs 950 – Rs 1050 per equity share of face value Rs 10 each. About 2.64 crore equity shares of OIL IPO is on offer through this public offer. After the debalce of Oil India IPO there seems to be less interest in OIL India IPO.

A quick update on OIL IPO Allotment status. Now you can check OIL IPO Allotment and subscription status here.

The Oil India Limited IPO lot size has been decided at 6 equity shares and in multiples of 6. The OIL IPO has started today for the public and will close on Sept 11th 2009. The Lead managers for this issue are JM Financial, Citigroup, Morgan Stanley and HSBC Securities. In the very first hour of opening Oil India IPO, it got subscribed 91 %.

Some analyst are suggesting that its better to buy ONGC from secondary market than applying for OIL IPO at Rs 950-1050 price band.Check out the DRHP of OIL IPO here. OIL which is now 8 times smaller than ONGC in terms of sales has a valuation equivalent to that of ONGC at this price offer. This will certainly limit the upward movement of OIL share price after listing. But as always those who are into the markets for long term gains can think of applying in Oil India Limited IPO.

Some may even think that its better to buy the stock after it gets listed from the secondary market than blocking the money for almost 20 days.Like what happened in NHPC IPO. NHPC is now trading at 34 odd levels down from 36 Rs of offer price. At this price range Oil India IPO will trade at 12 times of P/E ratio. Moreover volatility in the crude oil price is another concern for the investors. The CAGR of OIL in the last 4 years stands at 19.5% and the sales of the company grew at 16.5%. It has a cash equivalent of Rs 6500 crores in its kitty already. Please keep checking this space for OIL India Allotment Status, OIL India Listing dates and OIL India listing price. Oil India IPO Listing date is on Sept 30th 2009.

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