Oil & Natural Gas Corporation (ONGC) has received approval from Board of Directors for investment of Rs 1,200 crore in its wholly owned subsidiary --‘ONGC Green’ (OGL) through rights offer of equity shares.
In 2024, OGL had signed Share Purchase Agreement for acquisition of 100% equity stake of PTC Energy. OGL shall utilise the Rights Equity Share capital proceeds for investments in acquisition of 100% Equity stake of PTC Energy.
In addition, the Board of Directors of the Company has also accorded approval to provide replacement of Corporate Guarantee of Rs 75 crore on behalf of OGL in respect of PTC Energy. The Board of Directors of the Company at its meeting held on February 24, 2025, has inter-alia considered and approved the same.
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 | 289.80 |
| Oil India | 476.15 |
| Jindal Drilling&Inds | 534.45 |
| Deep Industries | 479.00 |
| Asian Energy Service | 317.85 |
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