Indian stake sales hit as ONGC pulls

21 Sep 2011

India is planning a vast array of stake sales in government-owned companies, but its decision to postpone a sale of stock in Oil and Natural Gas Corp last week could hurt its chances of drumming up demand for future offers, said bankers.

Coming just one day before the price range for the deal was due to be released, the delay shocked bankers and investors. ECM officials think the decision could damage the government’s wider plans to raise money from the partial privatisation of a host of state-owned companies. The government ...

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