ONGC FPO likely in 1st week of July: Fin Min sources
The market conditions will play a key role in determining the government's disinvestment agenda. The Finance Ministry is now firming up the divestment calendar for the entire year.
May 24, 2011 / 11:15 AM IST
The market conditions will play a key role in determining the government's disinvestment agenda. The Finance Ministry is now firming up the divestment calendar for the entire year.
The SAIL follow-on public offer (FPO) is likely to hit markets on June 14, 2011 and the road shows will begin in early June. However, a final call on the timing of the issue will be taken on the basis of market conditions.Also read: What is delaying SAIL FPO? Market conditions, says CS VermaThis will be followed by the ONGC FPO in the first week of July. As CNBC-TV18 had earlier reported, the government is working on a subsidy sharing formula which will be put in place before the FPO.The ONGC FPO will be followed by the BHEL, NBCC and MMTC issues. The RINL initial public offer (IPO) is expected in Q4 of this fiscal. The current list of issues will mean that the government will fall short of its Rs 40,000 crore divestment target, and the Finance Ministry is holding consultations with ministries for PSU IPOs.
