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Oil India plans IPO in November

Oil India Ltd, state run explorer, plans an initial public offering of 2.64 crore shares shares in November and would file a revised DRHP next month after updating information up to June 30, 2008, according to company official on Tuesday.

“We are in touch with our bankers for exact timing of the IPO. Hopefully market conditions will improve by November and the IPO is likely to open in the first half of November,” company sources said.

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