Oil and Natural Gas Corporation (ONGC) is planning to raise Rs 1,500 crore on private placement basis, through the issuance of 15,000 unsecured, listed, redeemable, non-cumulative, taxable, non-convertible debentures (NCDs) having face value of Rs 10,00,000 each at par. The meeting of the Committee for allotment of Securities and issue of certificates of the Board is scheduled to be held on January 11, 2021, inter-alia to consider and approve allotment of proposed NCDs.
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.
