Overseas investors have shown keen interest in the partial divestment of government stake in Oil and Natural Gas Corporation through public offer, one of the biggest issues slated to hit the market on March 5, Union Divestment Minister Arun Shourie said on Monday.

The feedback from pre-bid conferences has been encouraging and he was optimistic about the response to the offering, Shourie told reporters after an interaction with the merchant bankers associated with the ONGC offer.

The merchant bankers would conduct issue conferences in 23 cities including some outside India. ONGC chairman Subir Raha is likely to attend the roadshow at Singapore, the minister said.

Asked if any regulatory issue was left out to facilitate the bidding process, he said, "The concerns are over."

"The response to other issues, including sale of residual holding in CMC, IPCL and IBP has been encouraging," he added.

The government is aiming to raise about Rs 10,000 crore (Rs 100 billion) in through sale of 14.25 crore (142 million) shares in the oil and gas exploration company.