The much talked about Rs 11,500 crore share sale of state-run Oil and Natural Gas Corp (ONGC) has been deferred again and is unlikely to hit the market before mid-August.
The public offer in which government plans to sell 5% (427.77 million shares) was originally planned for 2010-11 fiscal but was deferred to April 5 as the company did not have adequate number of independent directors on its board to meet the market regulator Sebi's listing norm.
It was then scheduled for July but it has again been deferred, a senior government official said here.
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