Pursuant to Regulation 30 read with Part A of Schedule Ill of SEBI (LODR) Regulations 2015, Indian Oil Corporation has informed that the Board of the company at its meeting held on 14th March 2023 has accorded approval for formation of a Wholly Owned Subsidiary (WoS) in India, subject to approval of NITI Aayog, DIPAM etc. to operate in the domain of low carbon, new, clean and green energy businesses. The proposed WoS will focus and pursue IndianOil’s low carbon and green energy business to meet the operational requirements of the net zero target and beyond.
The above information is a part of company’s filings submitted to BSE.
