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public offer will hit the markets on March 5. The government on Wednesday had announced a price band of Rs 680-750 for the public offer.

The government has also said that retail investors would get five per cent discount in the offer. The company's 14.26 crore shares would be offered for sale through the issue.

The government has also reserved 10 per cent of the public offer each for employees or whole time directors and shareholders of ONGC or MRPL. The book-running, lead-managers to the issue are JM Morgan Stanley, DSP Merrill Lynch and Kotak Mahindra Capital.

UTI Mutual Fund has informed the Bombay Stock Exchange (BSE) that its stake in Pfizer has gone up to 14,43,672 shares, amounting to 5.0145 per cent of the company's total paid-up capital after it purchased 20,000 shares in the secondary markets on February 26, 2004.