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ONGC FILES DRAFT PROSPECTUS FOR PUBLIC ISSUE.

AsiaPulse News

| February 02, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Feb 2 Asia Pulse - India's state-run Oil and Natural Gas Corporation (BSE:ONGC) on Wednesday filed with Securities and Exchange Board of India the draft propectus for the public issue the Government of India's 10 per cent stake.

The 142 million equity shares will be offered in lots of 10 with a view to attract retail investors, for whom 25 per cent of the offer size has been reserved.

Of the 142,593,399 equity shares being offered through the bookbuilding route, 10 per cent have been reserved for the employees of the company and employees of its subsidiary firms like MRPL and OVL while 25 per cent shares will be ...

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