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( 15 Dec 2018)
Indian Oil Corp - Buyback Of Equity Shares By Indian Oil Corporation Limited ('Company') - Submission Of Board Resolution To


At the meeting of the Board of Directors ('Board') of the Company held on December 13, 2018, the Board has approved a proposal for the buyback of 29,76,51,006 (Twenty Nine Crore Seventy Six Lakh Fifty One thousand Six) equity shares of Rs.10/- each representing 3.06% of the total number of equity shares in the paid-up share capital of the Company at a price of Rs.149/- (Rupees One Hundred Forty Nine only) per equity share from the shareholders of the Company in terms of Sections 68, 69, 70 and other applicable provisions, if any, of the Companies Act, 2013 and rules made thereunder and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ('Buyback Regulations') ('Buyback').

In compliance with Regulation 5(vii) of the Buyback Regulations, we are enclosing herewith a copy of the board resolution passed at the meeting of the Board on December 13, 2018.

The Company will provide relevant updates in relation to the Buyback in due course.