ONGC readies for Rs. 11,500 cr stake sale

ONGC readies for Rs. 11,500 cr stake sale

“The Government of India (which plans to sell 5 per cent of its stake in ONGC through the follow-on public offer) has to take a call. We are prepared,” CMD Sudhir Vasudeva said.

The government plans to sell 5 per cent, or 427.77 million shares, through the offer. After the FPO, the government’s stake in ONGC will come down to 69.14 per cent from the current 74.14 per cent.

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