Weak demand for ONGC sale, until government entities step in

With 10 minutes to go, the deal is less than 4% covered, but after a last minute rush of orders, it appears the government will get its targeted $2.5 billion.

There had been a lot of hope that new regulations related to the sale of shares in listed Indian companies would improve the efficiency of the market and help increase the free-float and liquidity in a number of government-controlled companies in particular. But the first such offer for sale, which took place yesterday, cannot be described as anything but a huge disappointment.

The ingredients for a successful sale were all there. The target, Oil and...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: offer for sale | oil | gas | privatisation

Print Edition

FinanceAsia Print Edition

EVENTS