ONGC Videsh plans 5000 cr IPO

ONGC Videsh, the overseas arm of the national exploration company, is planning an initial public offering to raise over Rs 5,000 crore in the current fiscal to fund acquisition of foreign oil assets, company sources and bankers said. The proposed IPO, which will be India’s biggest since the Rs 15,199-crore issue of Coal India in 2010-11, will be considered by the board of ONGC this week, two executives directly involved in the process told ET


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