Oil and Natural Gas Corporation said on Monday that it would set up 1,100 retail outlets for marketing motor spirit and high speed diesel.

Speaking to reporters on the offer for sale of equity shares of opening on March 5, ONGC executive director A Kaviraj said the first outlet of MRPL would be opened in Mangalore "very shortly".

ONGC had received the government authorisation to open the outlets, he said, adding, they were considering either "stand alone" or the "chain outlet" option. "Most probably, we will go for the chain outlet option".

ONGC would hold roadshows in the US covering New York, Los Angeles and Boston, three or four countries in Europe, and Singapore, Hongkong and Tokyo.

The offer for sale is for 142,593,300 equity shares of Rs 10 each, constituting 10 per cent of the total paid-up capital of the company, in which the Government of India presently holds 84.11 per cent of its equity capital.