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Home / Business News / State Bank of India plans to bid for ONGC shares

State Bank of India plans to bid for ONGC shares

State Bank of India, the country's top lender, plans to bid for state-run Oil and Natural Gas Corp shares, its chairman Pratip Chaudhuri said on Thursday.

business Updated: Mar 01, 2012 11:38 IST
Reuters
Hindustantimes

State Bank of India, the country's top lender, plans to bid for state-run Oil and Natural Gas Corp shares, its chairman Pratip Chaudhuri said on Thursday.

The government is set to raise at least $2.5 billion selling a 5% stake in ONGC, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda. The one-day auction started at 9:15 am.

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