March 1, 2012 / 4:21 PM / 6 years ago

India's ONGC $2.5 bln issue fully covered - source

MUMBAI, March 1 (Reuters) - India’s $2.5 billion auction of government shares in Oil and Natural Gas Corp has been fully covered, a source with direct knowledge of the situation said on Thursday.

The ONGC sale was intended to restart India’s stalled programme to sell down stakes in state companies in order to trim its widening fiscal deficit. (Reporting by Sumeet Chatterjee; Editing by Aradhana Aravindan)

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