Reuters logo
ONGC share auction hit by system glitch - official
March 1, 2012 / 3:56 PM / 6 years ago

ONGC share auction hit by system glitch - official

NEW DELHI, March 1 (Reuters) - India’s $2.5 billion auction of government shares in Oil and Natural Gas Corp was affected by a system glitch due to large last minute orders, a government official said, adding details about final bids would be known later on Thursday night.

“We hope the offer is fully subscribed once we get the final details,” Sidhartha Pradhan, additional secretary at the government’s Department of Disinvestment, under the finance ministry, told reporters.

The ONGC share auction ended in chaos, with TV channels saying it had generated bids for just two-thirds of the shares on offer, but both of the country’s main stock exchanges saying they were still counting orders. (Reporting by Manoj Kumar; Editing by Aradhana Aravindan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below