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NEW DELHI: The federal government’s 1.5 per cent stake sale in ONGC bought absolutely subscribed, guaranteeing Rs 3,000 crore to the exchequer that’s to be accounted for within the subsequent fiscal. The federal government is promoting as much as 1.5 per cent of its stake within the nation’s high oil and fuel producer ONGC at a flooring value of Rs 159 per share.
The Supply-For-Sale (OFS), which opened for retail buyers on Thursday, acquired bids for over 1.33 crore shares. This represents 71 per cent of the full challenge dimension of over 1.88 crore shares.
The unsubscribed portion of retail buyers can be allotted to institutional consumers, who on Wednesday put in bids value Rs 4,854 crore, which is three-and-half occasions their quota.
Institutional buyers had put in bids for over 30.35 crore shares at an indicative value of Rs 159.91 per share, as in opposition to over 8.49 crore shares reserved for them.
The bids made by institutional buyers are value Rs 4,854 crore primarily based on the indicative value.
After seeing the demand from institutional buyers, the federal government on Wednesday determined to train the green-shoe choice, taking the full challenge dimension to over 18.86 crore shares or 1.5 per cent stake in ONGC.
On BSE, shares of ONGC closed at Rs 163.90 apiece, up 1.02 per cent over its earlier shut.
The federal government is promoting over 9.43 crore shares in ONGC with a green-shoe choice of promoting an equal variety of shares. The overall stake on the provide is as much as 1.5 per cent.
Proceeds generated from the ONGC stake sale can be accounted for within the subsequent fiscal, starting April 1, after shares are allotted to buyers.
Within the present fiscal up to now, the federal government has mopped up Rs 12,423.67 crore via OFS, worker OFS, strategic disinvestment and buyback. The disinvestment goal for the fiscal is Rs 78,000 crore.
The disinvestment goal for subsequent fiscal is Rs 65,000 crore.
The Supply-For-Sale (OFS), which opened for retail buyers on Thursday, acquired bids for over 1.33 crore shares. This represents 71 per cent of the full challenge dimension of over 1.88 crore shares.
The unsubscribed portion of retail buyers can be allotted to institutional consumers, who on Wednesday put in bids value Rs 4,854 crore, which is three-and-half occasions their quota.
Institutional buyers had put in bids for over 30.35 crore shares at an indicative value of Rs 159.91 per share, as in opposition to over 8.49 crore shares reserved for them.
The bids made by institutional buyers are value Rs 4,854 crore primarily based on the indicative value.
After seeing the demand from institutional buyers, the federal government on Wednesday determined to train the green-shoe choice, taking the full challenge dimension to over 18.86 crore shares or 1.5 per cent stake in ONGC.
On BSE, shares of ONGC closed at Rs 163.90 apiece, up 1.02 per cent over its earlier shut.
The federal government is promoting over 9.43 crore shares in ONGC with a green-shoe choice of promoting an equal variety of shares. The overall stake on the provide is as much as 1.5 per cent.
Proceeds generated from the ONGC stake sale can be accounted for within the subsequent fiscal, starting April 1, after shares are allotted to buyers.
Within the present fiscal up to now, the federal government has mopped up Rs 12,423.67 crore via OFS, worker OFS, strategic disinvestment and buyback. The disinvestment goal for the fiscal is Rs 78,000 crore.
The disinvestment goal for subsequent fiscal is Rs 65,000 crore.
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