{"id":480413,"date":"2022-03-31T09:05:24","date_gmt":"2022-03-31T03:35:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=480413"},"modified":"2022-03-31T09:05:24","modified_gmt":"2022-03-31T03:35:24","slug":"ongc-ofs-institutional-portion-over-subscribed-with-rs-4854-crore-bids","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-ofs-institutional-portion-over-subscribed-with-rs-4854-crore-bids\/","title":{"rendered":"ONGC OFS: Institutional portion over-subscribed with Rs 4,854 crore bids"},"content":{"rendered":"<p>NEW DELHI: The government&#8217;s sale of 1.5 per cent stake in ONGC on Wednesday saw institutional buyers putting in bids worth Rs 4,854 crore &#8212; three and half times their quota &#8212; but the company&#8217;s share took a beating on stock exchanges, falling 5.14 per cent and eroding shareholders&#8217; value.<br \/>\nThe government is selling 9.43 crore equity shares in India&#8217;s top oil and gas producer at a floor price of Rs 159 apiece, with an option to retain an equivalent amount of over-subscription.<br \/>\nThe two-day Offer-For-Sale (OFS) was opened to institutional investors on Wednesday. Against 8.49 crore shares reserved for non-retail investors (16.98 crores together with greenshoe option), 30.35 crore shares or 357.44 per cent more, were sought, according to stock exchange data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The government&#8217;s sale of 1.5 per cent stake in ONGC on Wednesday saw institutional buyers putting in bids worth Rs 4,854 crore &#8212; three and half times their quota &#8212; but the company&#8217;s share took a beating on stock exchanges, falling 5.14 per cent and eroding shareholders&#8217; value. The government is selling 9.43 crore equity shares in India&#8217;s top oil and gas producer at a floor price of Rs 159 apiece, with an option to retain an equivalent amount of over-subscription. The two-day Offer-For-Sale (OFS) was opened to institutional investors on Wednesday. Against 8.49 crore shares reserved for [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-480413","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=480413"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480413\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=480413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=480413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=480413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}