The government's offer for sale of its 10 per cent stake in ONGC received cumulative bids 5.01 times the offer size at the end of the fourth day on Tuesday, even as the roadshows to entice investors were being conducted at various global financial centres.

Power Trading Corporation Ltd's initial public offering has received an overwhelming response with investors putting in bids 47 times the issue size at the end of the bidding process.

The investors in ONGC IPO placed bids for over 71.53 crore shares as against 14.26 crore shares of face value of Rs 10 each available for subscription, according to the latest data available with the Bombay Stock Exchange.

The maximum bids for 22.95 crore shares were placed at Rs 680 per share, lower end of the price band and for 17.79 crore shares at Rs 750, the higher end of the price band.

The government along with the lead book managers to ONGC issue was conducting roadshows in financial centres like London.

The overseas institutional investors have actively bid for the offering across the price band of Rs 680-750, investment banking sources said.

The issue closes for bidding on March 13.

PTC IPO oversubscribed 47 times

Power Trading Corporation Ltd's initial public offering has received an overwhelming response with investors putting in bids 47 times the issue size at the end of the bidding process.

The PTC issue for 5.84 crore shares, with a bidding price band of Rs 14-16 per share, has received a whopping response from all sections of investors and subscription is about 47 times the issue size, bidding for which concluded on Monday, investment banking sources said.

The maximum number of bids have been placed around Rs 16, the upper end of the price band while the next highest

response was seen at Rs 14 per share, lower end of the band, they said.

The data processing work is still on to facilitate work relating to price determination and allotment, they added.