"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.
Published 10 March 2010, 05:56 IST