When it comes to ONGC FPO, looks like it was just the boy crying wolf again! After sources told CNBC-TV18 just yesterday that the FPO could possibly be underway soon, the channel has now learnt that the ONGC FPO may yet again be delayed.
This is primarily due to regulatory and procedural hurdles.
There is still no clarity on the subsidy-sharing mechanism for oil marketing companies. Additionally, ONGC may also not be in a position to meet the requirements of the independent directors of the company.
The government is however known to be pushing for the first week of December to FPO. A final verdict is expected by next week.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
