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Press Information Bureau
Government of India
Ministry of Finance
02-March-2012 18:30 IST
The offer for sale of shares through Stock Exchange mechanism for disinvestment of 5% paid-up equity capital of ONGC comprising of 42,77,74,504 shares was conducted on both NSE and BSE on 01st March, 2012 following SEBI’s recently announced Guidelines. The details of the bids received are as under:
Bid Details | No. of bids | No. of shares | Bid Amount in Rs. in crore |
Total bids received | 3982 | 54,06,12,890 | 16460.02 |
Total bids cancelled by members or due to insufficient funds | 1219 | 12,01,96,720 | 3693.27 |
Valid bids | 2763 | 42,04,16,170 | 12766.75 |
The Volume Weighted Average Price was Rs.303.67 per share against Floor Price of Rs.290/-.
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DSM/SS/HB
Disinvestment via stock exchange mechanism resulted in weighted average price above floor for ONGC share offer. Offer for sale of 5% of paid-up ONGC equity was conducted on NSE and BSE under SEBI guidelines; bids were received, some cancelled for member action or insufficient funds, and valid bids covering 42,04,16,170 shares were accepted. The Volume Weighted Average Price exceeded the floor price, producing the aggregate bid amount for exchange-based disinvestment allotment. of Press 'Enter' after typing page number.
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