Oil India has filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of up to 2,64,49,982 equity shares of Rs 10 each for cash at a price to be decided through 100% book-building.

The issue comprises a net issue to the public of up to 2,40,45,438 equity shares and a reservation of up to 24,04,544 equity shares for eligible employees.

The issue will constitute 11% of the fully diluted post-issue paid-up capital of the company.

The shares offered are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

JM Financial Consultants, Morgan Stanley India Company, Citigroup Global Markets India and HSBC Securities and Capital Markets are the book running lead managers to the issue.