Bharat Oman Refineries To Float With IPO By March 2008

New Delhi: Bharat Oman Refineries Ltd will come up with an initial public offer by March 2008 to mop up Rs 2,000 crore, Bharat Petroleum Corporation, said. The money will be utilized to fund the upcoming refinery in Bina, Madhya Pradesh. Bharat Oman Refineries Ltd, a joint venture between BPCL and Oman Oil Ltd is establishing the 6-million-tonne refinery at Bina. Bharat Oman Refineries could be selling a total of 48 per cent, partly through the IPO.