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Journalism of Courage
Turbulent market conditions have forced Indian Oil Corporation (IOC) co-promoted oil EPC firm,IOT Infrastructure and Energy Services,to rejig the timing of its Rs 800-crore IPO,but the company said it is confident of launching the issue before March.
The firm,which started as a dedicated player in oil tanking services in 1998 as an equal joint venture between IOC and German company Oil Tanking GmBH,is ready with all the required permissions,but is constrained because of the choppy market conditions,IOT Infrastructure President (Finance) Jatin Mavani said.
“We are ready from our side…but the market is very turbulent. It is very jittery,but we are confident that we will launch the IPO before March,” Mavani said.
