ONGC LTD (Oil and Gas Corporation of India limited), a public sector enterprise, is the largest oil and gas exploration and production company in India in Fiscal 2010 (Source: Hydrocarbon Exploration and Production Activities, India, 2009-10 report by Directorate General of Hydrocarbons ("HEPA Report 2009-2010")).The object of the offer is to carry out the disinvestment of 427,774,504 Equity Shares by the Selling Shareholder. The Company will not receive any proceeds from the Offer and all proceeds shall go to the GoI.(source JM financials)
FPO detials are as follows:
BRLM: JM Financial Consultants,Citigroup Global Markets,BOA Merrill,HSBC Securities,
Morgan Stanley, Nomura Financial
Syndicate Member JM Financial Services,HDFC Securities,
Issue Period: September 20 to September 23, 2011
QIB Bid Closes : September 22, 2011
Retail/HNI/Employee Bid Closes : September 23, 2011
Issue Size : 42,77,00,000 Equity Shares
Employee Reservation : 8,553,168 Equity Shares
Net Isse : 41,92,21,336 Equity Shares
Face Value : Rs.5/- per Equity Share
Price Band: Will be announced one working day prior to the issue opens
Lot Size: Will be announced one working day prior to the issue opens
Retail/Employee Discount : Will be announced one working day prior to the issue opens
Registrar: Linkintime India Private Limited
QIB Book: 20,96,10,668 (50% of Net issue size)
HNI Book: 6,28,83,200 (15% of Net issue size)
Retail Book: 14,67,27,468 (35% of Net issue size)
The ONGC group (subsidiary and joint ventures) of companies in oil and gas exploration:
The company has a vast experience in oil and gas exploration in the India and globally.
The company through its subsidiaries and joint ventures is present in 14 nations around the world, apart from being a major oil and gas exploration PSU (Public sector unit). The company also enjoys high weightage in the stock market indices in INDIA.
Domestic Operations
They conduct their domestic exploration and production activities through:
- Their own Independent operations
- In consortia with other oil and gas companies, including Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, GAIL (India) Limited, Gujarat State Petroleum Corporation Limited, Oil India Limited, Cairn Energy, BP, and Petrocon India Limited.
