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ONGC to file draft for share sale on 1 March

ONGC to file draft for share sale on 1 March
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First Published: Fri, Feb 25 2011. 05 30 PM IST
Updated: Fri, Feb 25 2011. 05 30 PM IST
New Delhi: State-run Oil & Natural Gas Corp is likely to file the draft prospectus for its share sale with the regulator on 1 March, its chairman A.K. Hazarika said on Friday.
The share sale, expected to raise up to $2.8 billion, will be launched on 15 March, Hazarika had said earlier this week.
The government, which owns 74.14% of ONGC, plans to sell 5% in the offer as part of a wider plan to sell stakes in about 60 state-run firms over the next few years.
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First Published: Fri, Feb 25 2011. 05 30 PM IST
More Topics: ONGC | Share | Sale | Economy | Markets |