The government has decided to keep open the price band for the retail
offering of one million shares of Videsh Sanchar Nigam Ltd (VSNL) set
for launch in early-August.
The prospectus for the offer was filed with the Securities and Exchange
Board of India on Thursday.
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There is also a possibility that the retail offering will be marketed to
OCBs and non-resident Indians, government sources said.
The VSNL offer will be the first central PSUs where the price band has
been kept open for the retail investors, with the earlier case being the
MTNL GDR offering in November 1997.
The other state run PSU Gujarat Mineral Development Corporation has kept
the price band open when it hit the markets last year.
The issue will be marketed