"There is no serious consideration (on follow-on public offerings in IOC and ONGC) at this juncture," he told reporters here. Both IOC and ONGC are not in favour of raising money through equity route as valuations are being impacted due to uncertain fuel pricing policy. Also, market conditions were not right for FPOs. "(These are) not the correct market time for FPOs," he said.
ONGC, GAIL to pick stake in China gas pipeline
New IOC president to be picked in 2013
Drop in global crude prices relieve oil cos
No rise in fuel price for now
Fuel sales: IOC losing Rs 107 cr a day