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    HomeNewsBusinessIPOONGC FPO likely in early July

    ONGC FPO likely in early July

    Oil & Natural Gas Corporation (ONGC) is likely to come out with its follow-on public offer in early July, reports CNBC-TV18 quoting sources in the finance ministry.

    May 03, 2011 / 12:51 IST

    Oil & Natural Gas Corporation (ONGC) is likely to come out with its follow-on public offer in early July, reports CNBC-TV18 quoting sources in the finance ministry.

    Sources also say that government is likely to raise about Rs 12,000 crore by diluting 5% stake in the company through the offer.

    As on March 31, 2011, government holds 74.14% stake in ONGC.

    At 12:40 hours IST, the share was trading at Rs 301.80, down 0.84%, with volumes of 187,639 shares. Market capitalisation stands at Rs 258,204.69 crore.
     
    Power Finance Corporation's FPO is set to open for subscription on May 10 while follow-on offer of SAIL is expected in early June.

    first published: May 3, 2011 12:46 pm

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