Oil and Natural Gas Corporation (ONGC) has borrowed Rs 4,000 crore from ICICI Bank on top of over Rs 18,000 crore it has taken from three other banks - Punjab National Bank (PNB), Axis Bank and Bank of India (BOI) to part finance its Rs 36,915 crore acquisition of Hindustan Petroleum Corporation (HPCL). The ICICI Bank has extended one-year loan to ONGC to fund the acquisition of government’s 51.11% stake in HPCL.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
| Company Name | CMP |
|---|---|
| ONGC | 279.25 |
| Oil India | 454.40 |
| Jindal Drilling&Inds | 535.85 |
| Deep Industries | 457.70 |
| Asian Energy Service | 297.85 |
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