Oil and Natural Gas Corporation (ONGC) FPO : Share Split before the Issue

by khalid on 06/12/2010 · 0 comments

Government wanted to make the Oil and Natural Gas Corporation (ONGC) FPO affordable for small Retail Investors and that is why has accepted the splitting of ONGC Share having a Face Value of Rs.10 into two shares of a Face Value of Rs.5 each. The Government plans to sell 5% of its shares in ONGC through a Follow-on Public Offer (FPO). Oil and Natural Gas Corporation Limited (ONGC) is a state-owned oil and gas company in India. ONGC significantly contributes to India’s crude oil production and natural gas production. It is the highest profit making corporation in India.

ONGC is Asia’s largest and most active company involved in exploration and production of oil. It is involved in exploring for and exploiting hydrocarbons in sedimentary basins of India. It owns and operates more than 11,000 kilometres of pipelines in India

The ONGC’s FPO aims to raise around Rs 10,000 crore from the capital market in March 2011.

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

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