The Govt Has Delayed The Follow-on Public Offer Of Staterun ONGC

The Govt Has Delayed The Follow-on Public Offer Of Staterun ONGCThe govt has delayed the follow-on public offer of staterun ONGC (Oil & Natural Gas Corporation) to next financial, The ipo issue may available for subscription on April 5.

The Indian govt, that has 74.14percent of Oil & Natural Gas Corporation , intends to sell 5percent in the offer as part of broader propose to sell stakes in about 60 staterun companies above the next several yrs to reduce its financial shortage as well as garner money for the poor.

As noted earlier, retail traders are likely to obtain a discount of 5percent. The govt planned to divest 5percent of its share in ONGC that would decrease its share in the firm to 69.14percent. The govt is hoping to mop up Rs 10,800 cr by way of the follow-on public offer .

Oil & Natural Gas Corporation issue cash will be a portion of the divestment target of Rs 40,000 cr for fiscal yr 2012. “The proceeds of 2 of the biggest follow-on public offer-SAIL and ONGC-is going to be accounted for within the next fiscal,” Divestment secretary Sumit Bose mentioned in an interview with CNBC-TV18.

Be Sociable, Share!
Tags:

Stock Market Basics For Beginners

Stock trading rules

Stock trading rules Set your goal and work out a budget for how much amount you want to invest in market. Avoid reacting to short-term pressure and expect a ...…

What Is The Floor Price?

What Is The Floor Price? Floor price is the minimum price where bids can be made. Book Building is fundamentally a procedure utilized in IPOs for effective price finding. The ...…

What is Support And Resistance?

What is Support And Resistance? One of several interesting phenomena of share markets that are usually catchy is a activity of share prices at the blink of eyes. At one ...…

Initial Public Offer

Initial Public Offer Initial Public Offer. The initial sale of share by a firm for the public. The commonest reason for a firm to start an IPO is ...…

Penny Shares Trading

Penny Shares Trading [ad name="468x15- 5 link"] Buying and selling penny shares is actually the best way to make huge revenue using the minimum amount of start-up investment capital. ...…

Indian Share Tips

NSE Investment Site

Market Update

Share Guide

Designed by VMV
web
analytics