Why is IOCL planning to raise its borrowing limit by more than half?
Answer
Answer
IOCL will increase its borrowing limit by 50% to Rs.165,000 crore. There is a huge mismatch as its revenues nose-dived but crude payments had to be made. The expansion last year took most of its borrowing budget last year.
IOCL incurred a capital expenditure of Rs.29,000 crore in 2019-20. IOCL will invest Rs.13,873 crore in city gas distribution.