IOC raises borrowing limit by Rs 30,000 crore
Pune   22-Oct-2011

IndianOil (IOC) has got shareholders' nod to raise its borrowing limit from Rs 80,000 crore to Rs 110,000 crore as the nation's largest fuel retailer has grown increasingly reliant on debt to meet even its day-to-day expenses. The state-owned company, which had in 2008 doubled its borrowing limit to Rs 80,000 crore, currently has gross debt of over Rs 78,000 crore.