New Delhi: The whole ONGC auction confusion has taken its toll on the government's disinvestment plan as this was being seen a test case for more such deals. As a result the divestment of Oil India and heavy engineering goods firm BHEL have been put on hold.
Heavy Industries and Power Enterprises Minister Praful Patel had earlier said that it would happen during the next fiscal. The government is looking to divest out its 67.72 per cent equity shareholding in BHEL.
After some hiccups and a late government intervention, the sale of government's 5 per cent stake in ONGC through an auction finally managed to sail through with an estimated proceeds of about Rs 12,000 crore to partly meet the disinvestment target of current fiscal on Thursday.
Hectic parleys were held for more than four hours after the end of the auction process at 1530 hours and a final tally of the bids remained elusive for that time....
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07:55 AM, Mar 02, 2012
Finance minister Pranab Mukherjea said 98.3 per cent of shares on offer were subscribed. ...
12:03 AM, Mar 02, 2012
New Delhi: Terming the ONGC stake sale as "a great success", Finance Minister Pranab Mukherjee on Thursday said the government has raised Rs 12,666 crore from auction of its 5 per cent stake in the oil major. "It is a great success...Our latest figure (from auction of ONGC shares) is now Rs 12,666 crore, which comes to 98.3 per cent subscription," he told reporters here. He said auction route to...
11:45 PM, Mar 01, 2012
The Cabinet approves tougher punishment for traffic offences that includes a jail term of two years for rash and drunk driving. ...
10:51 PM, Mar 01, 2012
New Delhi/Mumbai: After some hiccups and a late government intervention, the sale of government's 5 per cent stake in ONGC through an auction finally managed to sail through with an estimated proceeds of about Rs 12,000 crore to partly meet the disinvestment target of current fiscal. Hectic parleys were held for more than four hours after the end of the auction process at 1530 hours and a final tally of...
09:40 PM, Mar 01, 2012
Mumbai: The auction for sale of the government's five per cent stake in Oil and Natural Gas Corporation Limited (ONGC) fell short of expectations as bids were received for only 29 crore shares out of the 42 crore on offer. The ONGC auction on Thursday fell short of target and will raise just Rs 8,000 crore against the target of Rs 12,000-13,000 crore, a shortfall of at least Rs 4,000...
04:06 PM, Mar 01, 2012
