Jayanti Bajpai recalls the market skepticism in March 2004 over a $2.4 billion secondary share offering by state-owned Oil & Natural Gas Corp." Never in history had India seen a $ 1 billion float - and here was a $2 billion one," says Bajpai, head of origination at DSP Merrill Lynch in India, which comanaged the deal. "There were questions on appetite: Could $2 billion be delivered?" The doubts proved unfounded. The deal sold out within minutes, as foreign and Indian investors, clamoring for shares, submitted subscriptions for $12 billion worth.
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机译：Jayanti Bajpai回顾了2004年3月市场对国有石油天然气公司（Oil＆Natural Gas Corp.）增发24亿美元股票的怀疑。“印度从未有过10亿美元的发行量，而这里面是20亿美元的发行量，” Bajpai说道。是印度DSP Merrill Lynch的发起人负责人，该人共同管理了这笔交易。 “人们对食欲有疑问：能否交付20亿美元？”事实证明这些怀疑是没有根据的。交易在几分钟之内就被抢购一空，外国和印度投资者争相购买股票，认购价为120亿美元。
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