Union Budget 2011: ONGC, SAIL FPO on track

Proceeds for SAIL FPO may come in only in next fiscal as it is slated at end of March 2011 and it takes at least 9 days for proceeds to kick in.

By ET Bureau | Feb 28, 2011, 05.49 PM IST

NEW DELHI: The planned follow on public offers of the two mega PSUs- ONGC and SAIL is expected to be on track says disinvestment secretary Sumit Bose said in a post-budget press interaction.

The two FPOs' will be in the market as per the schedule and is not being postponed. The proceeds for the SAIL FPO may come in only in the next fiscal as it is slated at the end of March 2011 and it takes at least 9 days for the proceeds to kick in.

ONGC FPO proceeds is expected to come in within this fiscal.

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