Finance ministry once again mulls launch of follow-on public offers (FPO) for largest explorer
ONGC and power equipment major Bhel late next month or early March 2012. Centre plans to mop up around Rs 15,000 crore by selling shares in these two enterprises as part of its last minute exercise to mop up disinvestments funds. As per government’s new dis-investment strategy, shares of three companies L&T, ITC and Axis Bank held by government owned SU-UTI would be transferred to a special purpose vehicle, which in turn would pledge them to borrow money from banks for buying government equity in PSUs.
ref:
http://www.mydigitalfc.com/stock-market/govt-bring-ongc-bhel-fpo-next-month-825
Tuesday, January 10, 2012
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