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.

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.

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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.