The government's mega offer to sell its 10 per cent stake in Oil and Natural Gas Corporation was oversubscribed by 1.07 times within 45 minutes of opening of the bidding process on Friday.

According to the latest data available with the Bombay Stock Exchange, the investors have placed cumulative bids for 15.3 crore (153 million) shares as against 14.27 crore (142.7 million) shares available for subscription.