Oil and Natural Gas Corporation FPO to open in July 2011 - Indian IPO Blog

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Sunday, May 8, 2011

Oil and Natural Gas Corporation FPO to open in July 2011

The Follow-on Public Offer (FPO) of Oil and Natural Gas Corporation Limited (ONGC) may open for subscription in July 2011. ONGC is involved in exploring for and exploiting hydrocarbons in sedimentary basins of India. It owns and operates more than 11,000 kilometres of pipelines in India. ONGC contributes significantly to India's crude oil production and natural gas production


Oil and Natural Gas Corporation Limited (ONGC) is Asia's largest and most active company involved in exploration and production of oil. The Company has not yet filed its DRHP with SEBI for the proposed FPO

In a move towards the FPO, Oil and Natural Gas Corporation (ONGC) Board had earlier undergone 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. The Company had also issued 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

Stay tuned for the latest updates on ONGC FPO!

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