ONGC FPO deferred to next fiscal - Economic Times

NEW DELHI: The Government has pushed back the Rs 11,500 crore share sale of state-owned Oil and Natural Gas Corp (ONGC) to next fiscal and the public offering is now slated to open on April 5, a senior official said today.

Exporter of Hookloader Oil Tank

The follow-on public offer (FPO) was originally scheduled to open on March 15 but has now been rescheduled. "The rescheduling is partly because of delay in appointment of independent directors on ONGC board to fulfil SEBI's listing requirement," he said.

Manufacturer of Skiploader Oil Tank

The Government is selling its 5 per cent stake or 427.77 million equity shares in the FPO that in today's closing price of Rs 269.85 on the Bombay Stock Exchange (BSE) will fetch over Rs 11,540 crore.

Oil Tanks India manufacturing facility.

ONGC FPO deferred to next fiscal - Economic Times