Standard Post with Image

Ministers to Discuss ONGC Share Sale on Monday

  • A panel of ministers will meet on Feb 27 to discuss a share sale in state-run oil explorer and producer Oil and Natural Gas Corp , Oil Minister S. Jaipal Reddy said.The ministerial panel last week approved a plan to sell some of the government's shareholding in ONGC through a share auction but did not set any timeframe.The government had planned to raise up to USD 2.5 billion through a public offering of ONGC shares but that plan was scrapped in October after tepid response from investors amid weak equity markets.

Source