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 FPODiscover 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!
