The five percent sale in ONGC is expected to take place through the offer-for-sale (OFS) route between September and October this year.
The government is pushing ahead with its disinvestment drive. According to sources it aims to hire bankers for the ONGC stake sale by the end of August.
The five percent sale in the company is expected to take place through the offer-for-sale (OFS) route between September and October this year, and should fetch the government between Rs 17,000 and 18,000 crore.
However, the government is likely to clarify on gas prices and the subsidy sharing mechanism before the OFS takes place.
As for the subsidy sharing mechanism, sources say the oil ministry is finalising a cabinet note to this effect.
ONGC stock price
On August 18, 2014, Oil and Natural Gas Corporation closed at Rs 431.80, up Rs 21.85, or 5.33 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 234.40.
The company's trailing 12-month (TTM) EPS was at Rs 25.83 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 16.72. The latest book value of the company is Rs 171.29 per share. At current value, the price-to-book value of the company is 2.52.
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