Centre to offload up to 1.5% stake in ONGC via OFS

Related Articles

• Facility of deferred payment of customs duty extended to PSUs 0 26.Aug
• Power Minister R. K. Singh congratulates NTPC for signing MoU with UT of Ladakh and LAHDC to set up country’s first Green Hydrogen Mobility Project 0 14.Jul
• IRCTC and BOB Financial launch Co-Branded RuPay Cashless Contactless Credit Card 0 23.Feb

---

Mumbai, March 30 (IANS) The Centre will offload up to 1.50 per cent stake in energy major ONGC through an offer for sale (OFS).

According to stock exchange filing made by the ONGC on Tuesday, the OFS will be held on March 30 for non-retail investors and on March 31 for retail and non-retail categories with a floor price of Rs 159 per equity share.

“The promoter (the seller) proposes to sell up to 94,352,094 equity shares of the company (representing 0.75 per cent of the total paid up equity share capital of the company) on March 30, 2022, (T day) (for non-retail investors only) and on March 31, 2022 (T+1 day) (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids).

“… with an option to additionally sell 94,352,094 equity shares through a separate, designated window of the BSE and the National Stock Exchange of India, collectively representing 1.50 per cent of the total issued and paid up equity share capital of the company, in accordance with the OFS Guidelines.”

The offer shall take place on a separate window of the Stock Exchanges on March 30 and March 31 from 9.15 a.m. to 3.30 p.m. on both days.