Indian Govt To Sell 1.5% Stake In ONGC To Raise Rs 3,000 Crore
The Government of India will sell 1.5% of its stake in the Oil and Natural Gas Corporation (ONGC) to raise a fund of Rs 3,000 crore. The offer for sale will be open on March 30 and 31, and the floor price for one share will be Rs 159. Notably, the government owns 60.41% of the stake in ONGC, which is estimated to produce half of India's oil and gas.