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ONGC gets nod to raise Rs 500 crore via NCDs

30 Jul 2020 Evaluate

Oil and Natural Gas Corporation (ONGC) has received approval to offer and issue 5,000 unsecured, redeemable, non-cumulative, taxable, nonconvertible debentures (NCD) of face value of Rs 10,00,000 at par aggregating to a total issue size of up to Rs 500 crore on private placement basis to identified investors at the interest rate of 5.25% p.a. payable annually.

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.

Peers
Company Name CMP
ONGC 225.50
Oil India 444.40
Jindal Drilling&Inds 585.60
Deep Industries 745.85
Asian Energy Service 458.45
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