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    HomeNewsBusinessIPOYou have to be patient, ONGC FPO may hit only in FY12

    You have to be patient, ONGC FPO may hit only in FY12

    The much-awaited FPO of state-run explorer ONGC may have caught in another logjam. In an interview to CNBC-TV18, AK Hazarika, Chairman of the company said that FPO is unlikely to be launched in the first week of April.

    March 11, 2011 / 10:39 IST

    The much-awaited follow-on-offer (FPO) of state-run explorer ONGC may be in another logjam. In an interview to CNBC-TV18, AK Hazarika, Chairman of the company said that the FPO is unlikely to be launched in the first week of April.

    However, Hazarika is expecting the FPO to be launched in the first quarter of FY12. The government is planning to raise Rs 14,000 crore through the FPO. Reports suggest that rising crude prices and a faltering stock market may be the reason for the FPO

    first published: Mar 10, 2011 11:40 am

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