Finance Minister Pranab Mukherjee said today that the government has decided to study the auction process before going ahead with further stake sale of companies. The share sale of ONGC had been completed successfully with the Life Insurance Corportion coming to the rescue at the last moment. The government has asked Sebi to investigate the technical glitches that led to confusion about the subscription of ONGC share auction. On account of the rush towards the close of the bidding process, the stock exchanges had failed to upload the subscription amount leading to confusion about the total quantum of bids.The government has clarified that the auction has been successful and the targeted amount have been raised. Finance Minister Pranab Mukherjee said late last night that the ONGC stake sale was subscribed 98.3 per cent yielding the government Rs 12,733 crore. Against an offer of 42.77 crore shares, the final demand was for 42.04 crore shares and the LIC has reportedly purchased 41 crore shares. With the ONGC disinvestment going through the government has raised Rs 13,878 crore through stake sale in PSUs in the current fiscal. The government had set a target of Rs 40,000 crore from disinvestment in the current fiscal.