ONGC eyeing to sell stake in other PSUs to fund HPCL acquisition

Oil and Natural Gas Corporation Ltd.’s (ONGC) Chairman, Dinesh K. Sarraf, said that the firm is hoping to complete the selling of its existing stakes in other Public Sector Undertakings (PSUs) to partly fund the acquistion of the Hindustan Petroleum Corporation. Ltd. (HPCL), by the end of December. "There are many funding options available. We can look at market borrowings; we have some stocks we can sell," Sarraf asserted while speaking to the media in the national capital. He added that both Government of India and ONGC both are working towards it.