Running against time to meet the Rs 40,000-crore disinvestment target, the Centre today decided to offload five per cent stake in ONGC on March 1 through auction route at a floor price of Rs 290 a share that could fetch the Exchequer about Rs 12,000-13,000 crore.
“The ONGC stake sale through the auction route (will take place) in couple of days,” Oil Minister Jaipal Reddy told reporters after a meeting of the Empowered Group of Ministers (EGoM) which was chaired by Finance Minister Pranab Mukherjee.
From: http://ping.fm/aXteB
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