Oil and Natural Gas Corporation (ONGC) is planning to infuse about Rs 15,000 crore in ONGC Petro-additions (OPaL) as part of a financial restructuring exercise that will see gas utility GAIL (India) being edged out of the petrochemical firm. ONGC currently holds 49.36 per cent stake in OPaL, which operates a mega petrochemical plant at Dahej in Gujarat. GAIL (India) has 49.21 per cent interest and Gujarat State Petrochemical Corp (GSPC) has the remaining 1.43 per cent. The ONGC board last week approved a financial restructuring of the petchem firm which had been making losses due to its high debt.
ONGC will convert share warrants into equity, buy-back debentures and invest Rs 7,000 crore more equity, which will give it about 95 per cent stake. Upon implementation, OPaL would become a subsidiary of ONGC. The financial restructuring will augment the holding of ONGC in OPaL and OPaL will become more profitable. The total cost of acquisition would be Rs 14,864.281 crore.
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 | 283.95 |
| Oil India | 470.10 |
| Jindal Drilling&Inds | 540.15 |
| Deep Industries | 476.90 |
| Asian Energy Service | 306.05 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: