New Delhi to sell 5% ofONGC in auction March 1

摘要

Sydney—The Indian government February28 confirmed it would auction a 5% stake instate-controlled upstream company Oil andNatural Gas Corporation on March 1.The government, which was aiming toraise Rupee 400 billion ($8 billion) from disin-vestments in the fiscal year ending March 31,set a floor price of Rupee 290/share for the427.77 million shares to be sold, meaning itcould raise Rupee 120 billion to 130 billion.ONGC closed on the National Stock Exchangeof India at Rupee 293.05 February 28.