Centre to sell 1.5% stake in ONGC via OFS; may get Rs 3,000 crore
The government will sell 1.5 per cent stake in Oil and Natural Gas Corporation through an offer for sale (OFS) on Wednesday, a move that’s expected to shore up the centre’s divestment receipts by over Rs 3,000 crore from the sale.
The offer for sale for 1.5 per cent equity stake sale in ONGC, including a greenshoe option, opens Wednesday, and retail investors can place their bids on Thursday, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said.
The government’s offer to sell 94.3 million shares or 0.75 per cent stake in the public sector oil and gas company would open for non-retail investors on Wednesday. The offer to sell an additional 94.3 million or 0.75 per cent would open for retail investors on Thursday.
