India Finance - ONGC stake sale falls short of expectations

The auction for sale of the government's five per cent stake in Oil and Natural Gas Corporation Limited (ONGC) fell short of expectations as bids were received for only 29 crore shares out of the 42 crore on offer. The ONGC auction on Thursday fell short of target and will raise just Rs 8,000 crore against the target of Rs 12,000-13,000 crore, a shortfall of at least Rs 4,000 crore.

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