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Thursday, December 16, 2010

Oil and Natural Gas Corporation (ONGC) Board today has recommended for approval of the shareholders for sub division of each Equity Share of the Company of Rs.10/- each fully paid up into two equity shares of Rs.5/- each fully paid up

Moreover, the Board has also recommended for approval of the shareholders for issuance of Bonus shares in the proportion of one new Equity Share of Rs.5/- each as a Bonus for every one existing Equity Share of Rs.5/- each fully paid up by capitalization of reserves

Besides, ONGC Board has also approved a Special Interim dividend of Rs.32/- per share of Rs.10/- each fully paid up for the Financial Year 2010-11

The move comes ahead of the proposed Follow-on Public Offer of the Company, which is expected to hit the markets soon. Check back Indian IPO Blog for latest updates on ONGC FPO

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