Oil and Natural Gas Corporation (ONGC) has raised Rs 500 crore through unsecured, listed, redeemable, non-cumulative, taxable, non-convertible debentures (NCDs) and allotted 5,000 NCDs of face value of Rs 10 lakh each on a 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.
