Buoyed by an enthusiastic response to the issue of Oil and Natural Gas Corp, which was oversubscribed twice on the first day of offer, the government said that it hopes to mop up at least Rs 13,100 crore (Rs 131 billion) from the sale of equity in six companies during the current fiscal.
Divestment Minister Arun Shourie said the ONGC issue had been oversubscribed within the first hour of bids.
"By now, bids for 4.85 billion dollar have come in," the minister said.
"In these six weeks, we would have raised 3.5 times of what was raised in three years," Shourie said.
Asked about Warren Buffet's participation in the issue, Shourie said, "I do not know. But if he put money in ONGC, it is a vote for India."
The government on Friday opened bids for 14.26 crore shares of ONGC constituting ten per cent of the company's equity.
ONGC issue, billed as the largest ever public offering by a company, is expected to bring in Rs 10,000 crore to the government.
Government has budgeted to raise Rs 14,500 crore from sale of equity in six companies including GAIL, IPCL and IBP.