IOC raises Rs 2,995 cr debt to meet capex

State-owned Indian Oil Corporation (IOC) on Monday said it has raised Rs 2,995 crore through a privately placed debenture issue to fund its capital expenditure requirements.

The company "issued 29,950 unsecured, rated, taxable, redeemable, non-convertible debentures of Rs 10,00,000 each aggregating to Rs 2,995 crore on a private placement basis on March 6, 2020, to meet its capex (capital expenditure) requirement," it said in a regulatory filing.