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

Meaning For Book Building Process

Meaning For Book Building Process Book Building is fundamentally a procedure utilized in IPOs for effective price discovery. It's a method where, during the time period for which the initial ...…

Dematerialization Definition

Dematerialization Definition Dematerialization (Meaning) is the procedure through which physical certificates of the trader are usually transformed into an equal quantity of securities in electronic form as ...…

Why does Securities Market require Regulators?

Why does Securities Market require Regulators? The lack of conditions of best competitors in the securities market creates the position of the Regulator very important. The regulator makes sure that the ...…

Preference Shares

Preference Shares Dividend that is first paid to preference shareholders before any dividends are paid to common stock holders, This shares represent partial ownership in a company ...…

Role Of Registrar In Issue

Role Of Registrar In Issue Registrar finalize eligible allottes list following eliminating the invalid applications as well as makes sure that the crediting of shares towards the demat-account's of the ...…

Indian Share Tips

NSE Investment Site

Market Update

Share Guide

Designed by VMV
web
analytics