Citi, HSBC, UBS among 5 bankers to manage ONGC selloff

Citi, HSBC, UBS among 5 bankers to manage ONGC selloff

FPJ BureauUpdated: Saturday, June 01, 2019, 09:14 AM IST
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New Delhi :  The disinvestment department has selected five merchant bankers, including Citigroup and ICICI Securities for managing the 5 per cent stake sale of ONGC, which could fetch about Rs 18,000 crore to the exchequer.

Besides, UBS Securities, Kotak Mahindra Capital and HSBC Securities have also been shortlisted for the job, according to sources.

As many as 14 merchant bankers today made presentations before the disinvestment department for managing the ONGC stake sale. At the current market price, a 5% stake sale or over 42 crore would fetch about Rs 18,000 crore to the exchequer.

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