ONGC FPO on 20th Sept
at Wednesday, September 14, 2011
ONGC to launch $2.5 billion FPO on September 20: Report
Reuters
MUMBAI: Oil and Natural Gas Corp's follow-on share sale, valued at around $2.5 billion and delayed by more than six months, is likely to be launched on September 20 and will close on September 23, sources said on Monday.
The sale of a 5-per cent stake by the Indian government is part of a broader proposal to raise about $9 billion through share sales in public sector firms this fiscal year, to help plug the federal government's fiscal gap and generate funds for schemes for the poor.
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