| Overseas investors, including sovereign funds from Abu Dhabi and Kuwait, have assured the government they would buy up the proposed 5% stake sale in Oil & Natural Gas Corp, setting the pace for accelerated divestment in cash-rich companies by a funds-starved government.
Representatives of various funds from Singapore, the Middle East and London, who met finance ministry officials last week, have informally 'underwritten' the stake sale in the state-run company that could help the government raise about Rs 12,000 crore at current market valuations, three people familiar with the discussions between the government and investors said...............................................Full Article: Source
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