Oil and Natural Gas Corporation (ONGC) FPO : Likely in mid of March 2011

by khalid on 15/01/2011 · 0 comments

The Follow On Public Offer (FPO) of Oil and Natural Gas Corporation (ONGC) is likely to open by mid of March 2011. Oil and Natural Gas Corporation (ONGC) is a Government of India fully owned public enterprise and a Navratna company, which is under the administrative control of the Ministry of Oil and Gas, Government of India. The company had filed a Draft Red Herring Prospectus (DRHP) for a Follow-on Public Offer(FPO) of —- Equity Shares, having a Face Value Rs 10 each.

Earlier it was said that as the target is almost achieved the government indicated that the follow-on public offer (FPO) of the Maharatna company ONGC could be deferred to early next fiscal FY 11-12.

It is a part of Rs 40,000 crore divestment programme set by the government for financial year 2010-11. The ONGC’s FPO aims to raise around Rs 10,000 crore from the capital market.

Share’s Data :-
BSE Code : 500312
Mkt. Cap: Rs 252,122.84 Crores
ONGC share’s CMP is Rs 1,178.75 0n 14th Jan 2011.

Stay tuned to BelltheBull Blog for more on Oil and Natural Gas Corporation (ONGC) FPO !

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