ONGC price disappoints foreigners, but it pulls off share sale
India was forced to extend the auction period for its sale of a stake in Oil and Natural Gas Corp (ONGC) last week, after a muted response from investors. Local government entities, insurance companies and pension funds came into the deal at the last minute to help the government raise Rs124.05bn ($2.524bn), but international investors were noticeably absent, said bankers.
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