“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.
Published 04 October 2011, 14:49 IST