Mayawati's assets worth 111 crores; she has 380 carats of diamonds

Lucknow:  Her defeat in the Uttar Pradesh elections may have been brutal. But if Mayawati needs cheering up, she could review her long list of assets. The former chief minister of Uttar Pradesh shared the details of her property, cash and jewellery as she filed her nomination for the Rajya Sabha. It's an impressive portfolio.
In the last two years, her assets have shot up by 24 crores. So how much is Mayawati worth exactly? 111 crores.

Behenji, as the former chief minister is known, has said she has 380 carats of diamonds, and one kilogram of gold. Together, these are worth just under a crore. Her silver dinner set, which weighs nearly 20 kgs, is worth 9 lakhs.

Her immovable assets - largely property - add upto 96 crores. This includes two shops in Delhi's Connaught Place, a home worth 62 crores on Sardar Patel Marg, one of Delhi's most sought-after neighbourhoods, and a home in Lucknow worth 15 crores.

In May 2010, her assets were worth 87 crores.

This morning, she filed her nomination for the Rajya Sabha. Last week, she was voted out of power in UP. Her party managed less than 100 of the 403 seats in the UP assembly. The Samajwadi Party, with whom she shares a bitter rivalry, won the elections with astounding numbers. Once she is elected to the Rajya Sabha, she will resign from the UP Assembly.

Explaining her decision to move to the Rajya Sabha, Mayawati said her party has decided that with the general elections just two years away, she wants to prep her strategy. That will include drawing parliament's attention to the crime and lawlessness in UP, she said.

The BSP chief also said, "The party men have said I should increase party's support base all over the country and not just in UP. They said they would not want me to devote all my time here."

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ONGC auction disappoints, gets bids for Rs 8,500 cr worth shares

The auction for sale of government's 5 per cent stake in ONGC on Thursday got bids for 29.22 crore shares worth about Rs 8,500 crore, but could fetch only about two-third of the targeted proceeds of over Rs 12,000 crore. At the end of the one-day auction, the auction got total bids for 29.22 crore shares, including 19.92 crore on the NSE and about 9.3 crore on the BSE platform, exchange official said. The final figures were yet to be updated on the websites of the two bourses.

The government had proposed to sell about 42.77 crore shares through the auction at a floor price of Rs 290 a piece.

The total bids were worth about Rs 8,500 crore and accounted for 68.3 per cent of the total offer size.

In the event of the total number of orders received at or above the floor price being less than the number of shares being offered for sale, the government would have the right to either conclude the sale to the extent of subscription or cancel the sale.

The shares would be allocated on 'price-priority' basis, meaning the bidders at highest price would be allotted shares.

The bids were mostly in the price range of Rs 290-293 per share for the auction, which commenced at 9.15 am and closed at 3.30 pm today.

The government had fixed a floor price of Rs 290 per share for the share sale through this one-day auction, wherein it was targetting to raise about Rs 12,000-13,000 crore.

The bidding began on a weak note and only about 37,500 shares were bid for in the first hour. Till 3 pm also, total bids had come in for only about 1.43 crore shares, but the momentum picked up in the last 30 minutes.

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